absolutely agree there, this cannot be the average CR to get some more cash on the balance sheet in order to fund future activities.
In such an exciting, possibly highly rewarding situation, this would be a silly thing, putting a dent in investors perception of MEO for the ST
plus, they dont need the money, yet.
Im on the view that a major has come in, possibly one that was washed away with PetroBras massive bid for Artemis, trying to get some sort of stake in this pie
a santos, or shell or woodside, maybe even BHP. I bet someone like this is thinking, if we offer meo 50m bucks at a small premium, we can gain exposure to what the experts belive the next big thing on the NWS, plus, all of MEO's other exciting projects and more importantly, the extra cash may in fact provide the opportunity to MEO to advance some of their current projects that have been sitting in the back seat to artemis and in fact create a double whammy for this new investor
-unlock and greatly increase idle value due to advancement in current projects
AND
-gain an exposure to such an exciting project, just days from drilling
this is what im thinking, a normal CR for some extra, un-needed cash at this time would dissapoint me IMO
MEO Price at posting:
58.5¢ Sentiment: LT Buy Disclosure: Held
