smartstranger, having read your post, I query whether you...

smartstranger, having read your post, I query whether you understand this industry or this kind of investment - in which case you're probably best on the sidelines.

Those selling on Friday were the ones that for some reason thought there would be a farm-out announcement on Friday. Once they realised it was more than a month away, they sold. It had nothing to do with how positive or negative the annoucnement was.

You did say one thing right - MEO is speculative. If Friday's announcement is what made you realise that, then you probably need to do more research before you buy. While 'almost' everyone understands that MEO is speculative, if anything, Friday's announcement demonstrated the significant potential which it has and derisked MEO to a certain degree - making it perhaps slightly less speculative.

A large farm-out partner who is hopefully willing to drill more than one well will further help MEO's prospects of delivering on its potential.

And as many ppl have already pointed out on here - MEO is not a one hit wonder.