What I didn't but do understand in hindsight is how did meo get...

What I didn't but do understand in hindsight is how did meo get to 80c on speculation on petrobas may sign up.

Why it fell to 24c after they did

Why the s/p was only 50c (way below the spike on petrobis alone) on a 70% chance of big strike.

my conclusion

Meo was losing its spec status and losing its appeal the closer it got to paydirt.

I look at other spec examples. WCU spiked from 6c to 44c on mining approval. dropped straight back to 6c after that.

There is a huge lesson to be learnt here about spec stocks.

Having said that its now again a spec stock 100%. probably a good thing for a move up