Zeus is one of the biggest structures to be drilled in Australia. It is a company maker by anyones account.
This from yesterday's announcement.
Investors are reminded of the strategic funding arrangements MEO has with RDI that were detailed in our ASX release of 4th July 2008. With the exception of funding for the Zeus-1 well, several of the funding arrangements, particularly those in relation to the company’s Timor Sea interests (NT/P68 and the Tassie Shoal GTL projects) are contingent upon the successful listing of RDI. MEO is heartened that notwithstanding difficult market conditions, the process for the RDI listing currently remains on track.
MEO Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
