MEO officially put the geological chance of success at Armtemis at about 1 in 3
After watching the You Tune broadcast AGM - the confidence and body language of management absolutely ooozed out. In the boards opinion - I believe the one in three chance is quite conservative
Petrobras on board clearly vindicates my opinion
The other point that I would like to make takes statistics into account
Zeus 1 was a dry hole. So based on that - the chance of MEO stiking gold has a probability of 2 in 3 (if you look at the overall picture}
So based on my theory there is of statistics and the calabre of the oil and gas player on board - my take is there a low risk of dry hole
MEP Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
