Well done MEO management and exploration team!!! A fantastic result to announce in the face of a depressed market in the face of a volley of nay-sayers and down-rampers who seem to expect success at every turn. This is O&G exploration and it's highly risky. You have identified a seemingly great play here.
There are several upsides: Massive resource estimates, shallow onshore wells, a ready market, close to low cost O&G service company expertise. I expect they will be lining up to jump into a farm-in deal.
While we smile cautiously at your current announcement, I can't help thinking it will be different this time and MEO can finally turn the Company into a well deserved successful venture.
MEO Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
