Take home messages - WPL somewhat antagonistic - WPL has struggled due to attitudes in treating global majors with respect - WPL failed to secure sufficient gas for Pluto, while CVX quite comfortable for Wheatstone
Impications for MEO - Great to have independence in PBR - PBR are doers and have a point to make in Aust - Artemis will not be held hostage by WPL
Implications for CUE - Were roadblock to PBR negotiations (how very WPL) - farmed-out Caterina to WPL (deserve each other) - Failed to do anything with Artemis
Summary - Is it hard to see why CUE holders are bitter? - Get over it. MEO has done more with 360P than CUE could only dream - It is almost about time that Todd denies the market with info, allows the SP to fall, and then makes a low-market offer for all remaining shares in CUE. Oh, and Todd might add the "shareholders not accepting this offer to buy your shares at a discount, risk holding illiquid shares in a private company". More vaseline required.
This is not intended to be a CUE bashing exercise, but seriously kids, move on.
MEO Price at posting:
50.0¢ Sentiment: LT Buy Disclosure: Held
