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So whats Strickland promised to deliver next few weeks......., page-19

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saltocan

3,790 Posts.

17/05/15

15:10

Post #: 15295866
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Originally posted by Scarpa ↑

The current litmus test – unfortunately given the environment Meo is operating in in regard to the current hostile takeover – is Beehive. The eight weeks to announce the farm in partner is almost up so silence remains a concern. Hopefully is not the type of silence we got with the likes of the Puka 3 drill – not much Meo update then bad news. My current bet, unfortunately, is that the farmin partner may seek an extension of time which will emanate into greater uncertainty. Am seeking to be realistic here but hope I am wrong.

Have again been reading up on the Beehive prospect. I also started looking at the nearby Turtle and Barnett prospects – not owned by Meo – who also are saying they have good prospective resources. Interestingly all these prospective plays have identified a Ordivician and Carboniferius potential seam – which are the seams the basis of the resource estimates within the Beehive prospect. For Beehive the seams are virtually underneath each other which is a good thing I guess in that it might reduce exploration based drilling costs (but I am no expert there so hence why I use the word might) –

The close by Blacktip development gives more comfort around a probability/possibility of getting a good drill result but more importantly a flow from Beehive, but there is an element of significant luck in this industry. The first bit of luck before drilling is actually securing the funding/commitment from the/a farmin partner, or having an effective Plan B in place. Plan B for Meo will be fraught with challenges given it is a small cap player which hasn’t had much luck in its drills to date, and would require Meo seeking external funding. The second bit of luck is getting a flow and the third bit of luck is that the flow from Beehive is at a sufficient rate to be commercial. Fingers crossed the ducks line-up.. At least we have a potential conventional drilled prospect t (as against MSMN’s costly fracking prospect).

First link in this serach: https://www.google.com.au/search?q=beehive prospect&ei=bYpUVYzpLuHfmgXxu4CQBw

And then

https://www.google.com.au/search?q=turtle+barnett+oil+fields&biw=1366&bih=597&tbm=isch&tbo=u&source=univ&sa=X&ei=74xUVZyMGYK1mAW4x4HgDA&ved=0CEYQsAQ#imgrc=pMUC83XjNm_kuM%253A%3BVXQElOB8YYjRFM%3Bhttp%253A%252F%252Fmedia.abnnewswire.net%252Fmedia%252Fen%252Fgallery%252F75509_en_image_2_3_h.png%3Bhttp%253A%252F%252Fwww.abnnewswire.net%252Fpress%252Fen%252F75509%252FMEO_Australia_Limited_(ASX%253AMEO)_WA488P_Prospective_Resources.html%3B1086%3B527

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Agree
Meo has some great potential...some great prospects......but unfortunately the world of oil/gas exploration has moved on.......
There is a tough new world for oilers .......as they say..
Oils aint oils...Sal..
Show me the oil/gas and I will show U The Money...is the new saying...

meo has done well to have 454 and 484 progressing.......to a full carry...
I mean to say...the alternative would be to say goodbye with no value...give them back ...
Because Meo can not fund them...

Normally when a company starts to Slash n Burn programs....they ..need a new chairman..a new Ceo....
New broom to sweep through the place.....I mean to say ...sacking the Cleaner and Janitor wont cut it anymore so need a new management to get to the fat cats....

Not nice but thats business...

The keys to survival for Meo are in Peters hands and if he can do the business with ENI...
Dyor

Last edited by saltocan: 17/05/15

MEO Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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