The facts as they stand

Mosman has 1.68% of MEO shareholder take up in 3 months , they require 90.1% to acheive the RTO and force the remaining 9.9% to sell to Mosman.
98.32% of MEO Shareholders have told them NO deal....

Mosmans SP has fallen 30% since the last MEO shareholder take up notice a month ago, They have also further diluted with an emrgency cash raise with SP Angel, known in the game as the people to go to when noone one else will look at you. with thier fees, and risk costs massive and taken of any cash raise.... So how much was taken of the 500k equity equity , well only the Mosmna board know that..they have not diclosed.
The expiry time is early May, the scenarios are for a further extension at existing terms, a further extension at modified terms ( really do not see how they are in a postion to do that) or a full retraction of the offer and of they go trying to keep them selves solvent..
The last flowtest update at their COBDAN1 showed prouction of 8bbls per day of formation water and clean out fluids per day, no oil... Testing was being ramped up but no further update..
Mosman quarterly out in next 2 weeks, last quarterly as at 31.12.14 they had working cash reserves of anywhere between 1.1 and 2 million $ .....
Attempted MEO take over costs, approaching $650,000... 3 months of operating costs, fees, wages, flow testing costs all to come out of the next quarterly... add in what ever it was they had left from the 500k placement minus costs and fees...

MEO has quarterly out in the next week... we need to see reduction in overhesds, we have been told they have been doing we need to now see the proof in the pudding, permit extensions in place and approved for well commitments delayed to get in place further farm outs.. 30% Farm out in place with an undisclosed operator for Beehive ( 1 billion bbl prospect), which will be released in approx 3 weeks time...
Cuba ongoing with apparently 2 massive areas of high potential play..... Tassie Shoals awaiting further news, ENI saupposoudly buying Shells stake in Evans shoals will only be good for the Tassie shoals concept..... Director buys of 4 million shares on market.... We should see a cash at hand around the $ 5mm mark

The end game in this is playing out and a lot to be revealed in the next fortnight I feel...
Those that are still here with MEO, all 98.32 % of you...... rest assured in my view ( and quite obviously yours) the decision is sound and the only viable option out of the 2 to gain or recoup investor value.... That is not to say we should not consider a merger or takeover in the future with the correct market factors in play, just most assuredly not this one which has to be one of the most absurd and derisory in T/O history.