Good posting Dr and Blurrt. I still think we still see A$1.03 before drilling starts. Petrobas does not make it a habit of spending money for no reason. They know the probability of a success in this area.
However the market still holds the keys. If the volume stays low today and tomorrow expect a modest increase in share price. A strong volume today and tomorrow will assure a great SP before spud.
I also expect a sharp profit taking and the SP will be down until the first ANN. A positive ANN will drive the SP up and will not go back down until a bad ANN.
Been waiting for a long time. Just a little longer. Expect the "I told you so" response if up or down. Long termers will make money. Short termers may not.
Bob
MEO Price at posting:
56.5¢ Sentiment: LT Buy Disclosure: Held
