st reversal likely - fib, candle & momentum , page-6

Pigsy,

Maybe they can't afford the real version bexause they are the average punter wanting to have a go.

I recommend you and all MEO stakehoders have a gander at RedBacka's post number 5022798 posted 7/2/10 @ 12.39
Code XJO - S&P ASX 200 Index.

Just have a look , all posters should have a look. This is professional charting that is very pertinent to MEO and all stocks at the moment.

MEO is in danger of announcing a significant deal in a major downward correction. You , I and all the MEO stalwarts will not be able to halt the sell stampede if this correction occurs. This will be a telling week for all.

MEO board have some savvy Stock Market operators on board.
End of this coming week should tell the SH's a lot in MEO's and the Farminee stance in relation to the preffered SP on Farmin announcement.

It may be the case that if the SP is going to be detrimental to the deal ,they may well decide to further delay the announcement until conditions improve. You and I and other SH's are not in control here.

Another spanner in the works is the Henry report on the tax regime Labor are lookin to implement.

It does not look good for overseas investors in large scale projects such as Artemis....Go to ABC.net.au and look up todays business report on ABC1 with Alan Kohler.
If it is implemented,in my opinion,it will not only be counter productive but also a total disaster for Australias growth prospects over the next 2 decades.

Why ?

Because Large Scale overseas investors will bear the brunt of a very onerous and uncertain foreign investment tax regime over the next 20 years. The Henry Report is starting to have an impact..it is not publically released yet but the Labor Part Gurus' are preparing to implement most of the recommendations..see the ABC report for more info.

Petrobas and others may well be now instructing their accountants to analyse the impact on their proposed Australian investments prior to finalising any deal.

Don't belive me ..google it and DYODD..better all MEO'ites do the research.

Who knows, I may a victim of false reporting ..this is what I know from the ABC report on the Henry recommendations...if true..then I am ../" Not Happy Jan"...neither will you be!

Interesting times everyone ..time for caution.

My best wish is for all MEO Holders to make a motza..ST and LT ..but unfortunately,in my opinion,due to the delays in this Farminee announcement coming out later rather than sooner, we ,MEO , shareholders are worse off.

As I said before, a belated, albeit sensational but ill timed, positive annoucement in the midst of a market downturn will not set the SP on fire...I think the market has already factored in the SP for the Farm In.

If you can hang in for the long term then I have no doubt you will succeed and make good money...however...the Henry Taxation review could kill that as well.

Had this Farm in process been finalised as described by the MEO board prior to 2010 ,then, none of the above comments would be applicable.

Sometimes it is a case of the less attractive deal is the best deal in the long run..Maybe MEO board were too greedy and miscalculated the possibility of another downturn in the markets..or..maybe it was the Petrobras' of this world that put the squeeze on MEO (as I said before) to get a better negotiating position for themselves by stalling the deal finalisation....We all know MEO had to do an emergency CR to keep Artemis and to have enough COH to drill in Q3 2010.

Interesting times Indeed!

I have no doubt in my mind that MEO have the goods with the Assets but it is now a question of how they have played the Chess Game.

This post is meant to provide some food for thought..nothing else..As i said before..I will not cop it sweet losing money...Questions must be raised..the procastrination ,in my mind, has gone on far too long with the Farm In process.

BTW

MEO have a mandate to have a partial takeover from the last AGM.

Cheers HR

As usual Caveat Emptor..DYODD and tread carefully trading over the next month.