Dr Daz,Thanks for your thoughtful reply.MEO has been actively...

Dr Daz,

Thanks for your thoughtful reply.

MEO has been actively promoting both Heron and TS for years, and the last roadshow was only months ago... nevertheless those that could influence the share price significantly are staying away.

Presumably as the Heron well nears MEO will start to attract new money. And if Heron is a success then everything will change. If not, the new support level is going to be a lot further down - and if there was any value in TS and I was ENI...

It seems very likely that MEO is (significantly) undervalued at its current price. And there is no doubt they have some of the best negotiating skills to be seen in a small cap, so with further farm outs looming there remains further opportunity.