trading halt, page-44

I have been pondering the wording as well, and agree with you no1stockguru 'this is no ordinary capital raising'.

IMO there is a very strong likely hood that Petrobras are wanting to take a stake in MEO; some of us have been discussing this over the last few days or so.

At the AGM the company said they have heaps of cash, are in there best financial situation ever, and now we have this announcement.

The timing is perfect, as we are on the cusp of drilling a well that has the best pedigree available, so the price should not be at a discount. If we get Petrobras on the register (would be huge news) then the share price will get a significant lift, in fact it could easily double very quickly.

The securing of a 50% working interest in WA-361-P could have been the catalyst for the possible approach to invest directly into MEO.


Of course all of the above could turn out like pis---g in the wind and if it is then perhaps MEO has planning a drill program for WA-361-P without a farm in, if WA-360-P delivers the goods.

What ever the result it is, its a smart move to raise capital during prime time and after listening to the AGM presentations, I have every confidence that ME management have very well defined strategies and the ability to execute them.