why soo much negative sentiment, page-6

How can things be on track just 7 days ago and blown out today with no indication to us that there was an issue?

Here's a short history of their anns regarding Artemis:

21st July (blow out in the close of the data room)
*WA-360-P data room availability extended – now closing August 14th 2009

14th Aug (confident to conclude 30th Sep)
*WA-360-P data room closing to new entrants 5pm EST, August 14th 2009, indicative offers expected by 31st August and farm-out expected to be concluded by 30th September

*MEO has requested indicative offers from these parties by 31st August and remains confident that a transaction will be concluded by 30th September.

1st Sep (binding transaction by 30th)
*Process to complete binding transaction by 30th September remains on track

*The Company remains on track to complete a farm-in transaction by 30th September as previously advised.

2nd Sep (farm-out BY 30th Sep)
*WA-360-P Farm-out by 30thSeptember. Drilling planned for 2010

17-Sep (on track to conclude by 30th)
*MEO’s 70% owned WA-360-P permit contains the 12 Tcf Artemis prospect and is subject to a farmout process which we expect to conclude by the end of September.

*Indicative offers are currently being progressed towards a binding farm-in agreement and the Company remains on track to complete a transaction by 30th September 2009.

The SP built accordingly and then, quite oddly, it took a nose dive BEFORE the tough news from the US today. Even oddlier (lol) the next ann says:

*Negotiations with potential farminees expected to be concluded during October

When was this ever mentioned??
*All parties involved in the farm-out process have acknowledged the extremely tight timing expectations MEO placed on the process and have worked diligently to endeavour to conclude arrangements within the specified timeframes.

Oh ok, just another blow out...
*While considerable progress has been made to date, these negotiations remain incomplete and are now expected to be concluded during October.