I have been sitting quietly watching MEO SP action and all the...

I have been sitting quietly watching MEO SP action and all the posts on MEO over the last couple of weeks and have noticed a lot of newbies to the thread since the farm-in ANN.

All long term holders will know that MEO has had some rocky months last year and this year with doubt on farm-in certainty and therefore future direction of MEO. This combined with the average SP performance after farm-in ANN and the Greek Debt crisis has seen very low SP price for MEO lately.

But it is important not to confuse the recent lows in SP with past history or MEO's current position. Price changes in the last few weeks have been more about general market confidence in a topped out market rather than MEO performance.

I think that if you step back and ignore the short term SP fluctuations since farm-in and consider its present position you should be able to see that the fundamentals for MEO now look very positive.

1. 1 Month ago - Petrobras onboard Apr 14
2. Last few weeks - MEO Management actively looking for new opportunities and planning for expansion
3. Next week or two? Based on average 30 day timelines for FIRB approval, IMO FIRB approval may only a few days off and will result in cash payment and capital injection into MEO
4. Next few months - Cashed up MEO actively starting new farm-in engagements and preperation for drilling WA-360-P which if successful represents one of the biggest LNG potentials this country has seen.

I know everyone has heard this all before, but just wanted to clear the deck a little with a fresh bucket of water for those who have been overly concerned with SP perfomance over the last week or two.

If the fundamentals have dramatically improved, so will SP over time. Be patient and if you have done your research back your reasons for getting into this stock. Good Fortune to all.

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Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.

Mark Twain 1835-1910