Dr Daz,If ENI really wants TS (I'm in two minds), then I can't...

Dr Daz,

If ENI really wants TS (I'm in two minds), then I can't see why they'd be paying an absolute motza for it... if we were talking that kind of money then surely better to take MEO over for not much more than where it is now, offload its remaining assets, bank its cash and effectively acquire TS for nought?

I dare say the majority would be rushing for the door at a price in the mid 20s...

I'm a lot less optimistic these days about MEO, although I retain my holding. I have observed risk money come back into the market recently, but none of it has gone into MEO.

Also, I'm no fan of Indonesian exposure; MEO would be better served using some of its cash reserves to gain exposure to AU shale or African plays.