This was discussed at the meeting, the released notes don't really go into it that much depth though - "rooms full of data" have been collected on Heron and MEO thought it wiser to analyse the data first, and work out how to tackle the Elang Shales to prevent another repeat of the last drilling effort. They've outsourced this analysis to experts in the field (their name escapes me?) and WILL move back to Heron around September this year, hopefully with enough cash to drill.
Blackwood was drilled because they were locked into a 3 well contract with Seadrill - basically, they had to drill somewhere so they picked the next best thing to Heron - Blackwood.
I'm still only scratching the surface with this one, so best to DYOR.
MEO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
