spp - for loyal share holders, page-99

If one takes that there are approx. 9506 share holders as per last Ann Report and discounts 4521 of them (holding less than 10K shares), then we are left with approx 4985.

At a pick up rate of 1181 shareholders totaling 46.53m which gives an average of 39,348 shares per person or nearly $8K each.

So yes, the SPP was in all probability not over-subscribed.

I'm not denigrating MEO, but with 2 Drills underway of potential considerable upside should they be successful, I dare say this may have been a little disappointing to them.

A theoretical scenario may be that given MEO's past history, shareholder confidence in general may not be that high and edged with precaution.

Simply put, MEO needs runs on the board and hopefully the odds of probabilities appear favourable at this time.

I've topped up with each positive phase, so now all there is to do is sit back and wait. If they are undertaking a production flow test, then here's to a Niagra Falls after a snow melt, cheers.