Goodluck with it Anatol No skin off my nose if it is Sept since I have a position in one of the other JV partners.
However, I interpret MEO's latest spud update of "late 2010" to be Dec. Never known these guys to deliver anything early. If that proves correct, I see the following scenario.
I think traders are waiting for FIRB approval for a decent exit with a view to re entering lower between now and spud, 6 months away. Therefore there could be some heavy selling on FIRB approval if the Dec spud is confirmed then. Consequently the FIRB sp spike may not happen.
MEO Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held