the story continues, page-2

IAM, always good to read your posts which have often provided me with clarity and comfort during the many years that I have been an MEO shareholder. Please keep posting.
The Seruway PSC farm out looks promising on paper (story of MEO's life) but I am wary that this fishing expedition will also come to no avail. The rapidly approaching work obligations (which you list) will put any farm-in/ purchaser under considerable pressure to accommodate when potentially they can try to pick it up for nicks once MEO defaults on work obligations should it not be successful in offloading it before hand. I can't imagine the Indonesian Govt extending terms to accommodate MEO when they can potentially transfer it to one of their own to develop (which would be very disappointing considering the resources & effort that MEO have expended in identifying the opportunity). Also the fact that MEO management outsourced the sale process to RBC suggested to me that they thought thattheir efforts would be best served else where. Very happy to be proven wrong.
At the current share price I am amazed that WPL haven't yet picked MEO off. Play money for them with possibility of significant upside (exploration) and strategic synergies (Tassie Shoal-Sunrise) in a neighborhood that that are masters in.
Keep well.