Any time a small ASX o&g company has 30% of its shares on offer owned by the T20 is a great outcome - a solid foundation for positive news to have a better chance of flowing onto the SP...
No one selling - why? Top 10 are increasing or at least holding firm - why? IMHO, as you may have read once or twice in my posts (....) is ES and solely ES. Right now, in the history of MEO, the main game is ES and TS.
Not the best mid year report - sure. However, the report did state that "in response to a request from Government stakeholders, MEO submitted its assessment of the commerciality of the Evans Shoal field to the National Offshore Petroleum Titles Administrator (NOPTA). This assessment will be taken into consideration during assessment of the Retention Licence application for NT/P48".
What a fantastic outcome. Could not have asked for much more at this point in time.
Not exactly common for an ASX entity to 'be asked' to provide a commercial solution option to the Australian Government regulator/authority for a license extension assessment in which that ASX entity does not hold any current license equity..... The considerable MEO lobbying to the Australian Government re its time to get serious about this use of lose it policy has paid off big time for MEO.
IMO, there is no commercially viable alternative for ES other than TS. Interesting months ahead.
Adl
MEO Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
