top 20 shareholders, page-11

Just my thoughts on the above posts.

Despite MEO going 100% on Gurame those who remained in MEO when they were drilling knew this.
The problem for me is not that they went at it 100% but how the hell did they not get it to flow.
I have no problem in saying it must have been incompetence because management have by now probably realised this.

I also had a problem with the Thailand drill in that it appeared they were pretty quick to call it stumps. At this stage it looked like they weren't prepared to spend any more kanga on Thailand despite not reaching TD. They had subsequently thrown a few million down the pipe and achieved zilch. Why bother with the drill at all if you're not going to give it a red hot go.

I don't really agree with running oil & gas decisions by the accountant. It sounds good in theory but what would an accountant know about O&G prospects and the risk/reward.
They will simply get in the way of not only making decisions but the right ones for the company. Also whats this crap they said about having a risk committee. Please, enough of the BS, I assume this is going to be an internal risk committee anyway, what a waste of space.
Isn't management paid to evaluate risk.
Its just there to justify bad decisions.

All they should really do is provide more detailed cash flow forecasts. But in MEO's case they have always raised capital at the right time anyway leaving them with sufficient cash.

I welcome posters to post conversations that they have had with management as it certainly informs us of information (note its not material) that we would otherwise not know.

If posters have built a good repour and are able to ask intelligent/right questions, I am grateful that they share their gained knowledge on the forum.

As for Dazzler, his posts are in a league of their own and are wanted/valuable to most. The forum has suffered greatly ever since he went MIA.
I think a couple people might know his identity but who really cares. Anyway the last I heard he was going to the "Emerald" city with Dorothy to have a chat with the Wizard :)