what have we factored in 10c sp of meo so far?, page-22

Suleyman,

Sorry mate,

As a previous long term fanatic of MEO and also being a total realist ATM I must pull you up on your figures...They are a presumtion on FIRB approval and not the reality until that happens.

Look mate, I spent the last hour punching up a really long synopsis on the MEO/PETROBRAS FIRB scenario and also the RUDD super tax implications..sorry ANATOL (love yr work but I am APOLITICAL) ..That means I should be realist.

It took me me hour of my time and the friggin Internet connection cut out..Now I know how that BP Oil Well in the US Felt....Spill your guts and no comeback!!!

Anyoway ..to be kind ..Petrobras is spening $118M on NZ exploration licences..100% owned as well as having been involved with the East Timorese Gov't since Feb 09 in realtion to their O/G onshore and offshore rights...you know must know that, Gusmao (East Timor PM and activist),has given WPL , basically,the marching orders.

East Timor understands that there is a fallback scenario...possibly with Petrobras in relation to the WPL situation..

What has it all to do with MEO you say?

It is the delay in getting the FIRB lodgement Suleyman!!

I am not happy nor should you be.

The wotld markets and tha Australian political situation has changed dramatically in the last 6 weeks in relation to the mining resources sector...A massive Global change in tax perspective.

Think about it Suleyman and Anatol!!!

I am not so sure you or I would be very happy about a loss of SP due to Political reasons.

So what is the real delay in getting the Australian PBR company registered so late in the process and what is the real reason the SP has been ,in my opinion ,supressed for so long????

Think about it..this is a O/G speccie with no income and with so much potential ...BUT.. subject to the whims of the market and also subject to the local politics and also subject to competiveness of Australia in the Global Resources tax environment.

Maybe that is why PBR is stalking NZ leases (100% owned) and also in ongoing discussions with East Timor..WPL not happy Jan!!

PBR has been in positive discussions with East Timor since Jan 2009 with regard to sovereign O/G rights and their exploitation.

After all ,you must understand that East Timor's Ethno/political roots are not dissimilar to Brazils roots.

Make of it what you will ...All I know ,from my point of view ,is that all this Farmin process has taken far too long and this to me is due to the Brazilian Gov't being involved..too many tentacles!!Too slow!!

All this scenario of uncertainty is doing is supporting volatility and downward trend in MEO's SP .

When will it stop??

When we know the exact position!!!

Do you know? Does MEO know...Who the Hell knows.!!!

The Bot's are having FUN!!

Maybe I can top up around 25c next week???

Sorry all..No Cheers all tonight!


Disclaimer: Any word uttered above is strictly my view as a frustrated and in a "pregnant pause" shareholder.No Advice given nor intended..strictly venting of the spleen as I see fit and reality as I see see it.

I do not apologise for any of my views..right or wrong..had enough of rubbish!


If there are any spelling or gramma mistakes..so be it!!!

I am now going to copy the text above..just in case.