I really doubt that MEO have left themselves short of cash. They...

I really doubt that MEO have left themselves short of cash. They can still fully expect recoupment of back costs as part of the current and proposed farmouts. This has not changed because of the latest results, why would it? MEO can always negotiate to ensure cash upfront as part of these farmout deals by giving away a greater % of permit etc. The industry is still hot, and MEO permits are still prime real estate in the industry, so I do not see any problems. Talk of Receivers is plain rubbish. The Qtrly's will reveal all, where they will need 3mths of admin costs in the Bank pending the 454 farmout, or say 6mths pending Seruway. $3M-$6M would cover until then. This will be well covered by current cash I am sure.

Post farmout results and resultant cash position, then MEO may need to capital raise, but we will need to wait and see, as this is still unknown. From this point MEO will need results otherwise there may be severe dilution. However the quality assets of MEO remain, and we either take the risk that results will be achieved or we do not.

If you are worried that the company will not survive or will get bought out at less than current market cap, then go and invest elsewhere. Otherwise have faith in the assets of MEO, its ability to farmout on favorable terms and management of cash. MEO has done very well on these fronts in the past IMO and speculation to the contrary I do not see as justified. I may be proven wrong, I hope not. But again we have to wait and see, otherwise all speculation is just that - speculation. Take you own view, form a strategy and stick to it. Listen to the opinions of others, but wait for the facts before re evaluating your position. In positive times there's a positive vibe, and in negative times negative vibes. No point getting caught up in sentiment and changing your strategy based on the non factual thoughts of others individually or collectively. Just my mindset.

Peace KK