the boy who cried wolf, page-45

Needle

So went back and watched te video, again...

So lots of promise and jokes about need to recover millions in 3d seismic costs...

454 not to finish until the "new year" which plays perfectly into the hands of eni as it won't matter how big the 454 p10 is, the only real player spending money and has the major infrastructure ready is eni... Floating LNG types might look but they are already managing budget blow out issues...

Seruway not ready until 2h 2013 to be signed off... Won't even come into play by the time eni make there move.

All roads lead back to eni and if eni are fair dinkum about doing something with all that high co2 gas at ES then only repeat only cost viable road to market is meo. Why give up half of blackwood after spending what $17m on 3d plus say $75m to production test Blackwood when eni can have ts, heron, 454, seruway, $90m in tax offsets, for what no more than, based on current placement, say 30c or less than $200m. What majority is going to block 30c right now? No one that works at meo as no of them own even 0.25%...

Unless sp at least doubles in the v near term, meo is a dead man walking. Heck I bet those eni execs would glad not having to pretend to laugh at jh's dumb pregnancy or prescipice jokes...

I continue to accumulate so not down ramping folks!