sv-6 drill rig, page-40

Hi blurrt

You are right. MEO have fulfilled their obligations to CUE, who remain just a permit partner. This was the reason for the CR last Nov and the commitment to drill in December.

The rig has been contracted, originally for October, but the BOP problem put back the Shell programme and the ripple effect has affected the A#1 spud. The latest estimate is mid to late November and, as I say, any delays are out of MEO's control.

Essentially MEO's remaining obligations are to the Designated Authority (DA) under the committed work program. I am sure the DA understands the delays that can occur in the industry and MEO would have a good enough relationship with the DA to manage such delays.

Unfortunately there are so many retail investors who do not do their research or ask questions of the respective companies in which they invest to better understand those companies.

MEO do have an email contact on their website for the SHs (owners) of the company to ask technical (non price sensitive) questions. I have found that the management are only too happy to reply to sensible questions.

I notice that the gap created on open was quickly filled and possibly 50-51c will become the new lower resistance level on this upward trend. The sell bots are trying to test this again.

I expect there will be another upwards push when the ~US$39 cheque is paid (due 15 Oct) and the P68 estimate and farmout gets underway. There is no point trying to put a value on P68/Heron until those estimates are received.

#:>))