Imho, heron and 454 have become one big deal foe meo and eni.
Heron will be announced as a goer for eni later this week. Eni really want a piece of heron and blackwood as we all now know both are high in co2 and perfect for tsmp.
Eni must have a shot at 454 because now they need all that gas - gove will crank up and even more gas. Mainavis one third the size of blacktip but breakwater is nearly three times bigger than blacktip.... Sadly meo will sell a 454 stake off to enifor badly needed cash as well as retain circa 25% for two wells imho.
The ensco 109 option still belongs to eni re ES which will be drilled in early q3/q4 followed by blackwood in Q4. Es has already flowed ver, very well so another positive result will put heat under meo sp as blackwood is next cab off the rank and meo will really ramp up tsmp equity buyin over coming quarter imho.
No news re 454drill date but expect spudding in 2h 2013 imho.
Adl
MEO Price at posting:
8.5¢ Sentiment: LT Buy Disclosure: Held
