Ok so no doubt there are a lot of people pissed off at MEO.
Lets assume that MEO are not corrupt or doing a bad job and that they are looking out for the shareholders.
From what the public know and judging from others comments in HC, MEO is getting kicked around by a bigger company.
Therefore because MEO has shareholders in there best interest they have strategically raised the required funds in a manner to prevent farminee leverage over Artemis. Knowing full well the mess it would and has created.
However this course of action is probably the better of 2 evils.
Loosing artemis would have been stupid...
Letting a farminee hold you over a barrel would have been worse.
Therefore if they get a farminee the price goes up.
If they dont get a farminee the price will go up near the drilling Late 2010.
Either way they have retained there rights to artemis thats the key.
There will be plenty of other opportunities to get a farminee between now and drilling. So it doesnt matter now if this farminee falls through. (Try telling the herd that though)
MEO has artemis and therefore Medium term price will go up.
Flip a coin for Monday though.
MEO Price at posting:
40.5¢ Sentiment: None Disclosure: Not Held
