The part below of today's announcement is a cause for concern.
It sounds like they are trying to cover the fact that results may not be as good as first anticipated.
I am not experienced in the industry and terminology used, just want the bloody thing to go up. But my gut tells me otherwise.
Hopefully I am wrong!
"the Company stresses that until the section drilling has been completed, testing undertaken, including analysis of the log data to confirm the development of a fracture system and permeability in the section, and hydrocarbons recovered, MEO is unable to confirm gas quality or that a recoverable resource is present in the Epenarra structure."
MEO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
