If you're LT and holding till TD then it's all good and you'll have a little bit more duster insurance.
If you're ST or DT MEO don't give a rats about you. As it should be.
If we get gas THEN I expect MEO will let the PR guys loose but until then MEO is playing smart. The more the SP rises on hype the more It'll tank in case of a duster. We don't need or want any more hype ATM. All the technical works been done,100m in the bank, an outstanding farm out is concluded, drilling has commenced and we have Petrobras on board.
Why should MEO hype it up now? For the benefit of the ST who want to dump before TD? No way, JH and Co are looking LT. JH has already alluded to ST investors causing SP volatility, and the timing of the CR is a sharp rap on the knuckles to reinforce the message.
JH has had the last laugh, and extracted 32mil at exactly the right time from the impatient and foolish, for the benefit of MEO LT holders.
MEO Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
