I went and re-read everything, then thought about what has happened with MEO since last September, and decided to write about MEO as seen through my eyes,,,

There is no ?elephant?, only a lot of areas that will produce a small number of barrels per day, and a still to be determined amount of gas. MEO will turn into a gas play if the numbers are high enough with a SP in the .20?s. However to get the SP back to the .20?s, MEO will need to release concrete and verified numbers. The days of hoping for a SP in the dollars are gone. Meo may have a lot of credibility with TOGA and others down in TN because they have avoided "blowouts", but I think they have lost it with investors and will need to show they actually have something in hand to get them back. Investors are not going to invest in MEO on speculation anymore. They have moved their money to other speculative plays. They can always move money back if NR?s warrant it.

After almost 10 months MEO does not seem to have moved forward. Yes they have a new partner and a bunch of holes in the ground, however we are still waiting to hear what exactly is in them. Nothing is even remotely ready to bring in income so that they can avoid more share dilution to continue drilling. Blackrock’s million and something won’t last long and then MEO will have to ante up. At that point there will probably only be one way to get the cash for MEO to continue.

I said before that I had a number in mind that the SP would need to reach before I would start to sell. I have lowered that number drastically and at this point I am holding as I have not realized the loss until shares are sold. Maybe MEO will come out with some good news with the AGM next week, but based on history I don’t think they will.

Any and all constructive remarks, criticism’s etc are welcome. Anyone whose only response is to tell me to sell needn’t bother. I know when I will sell.

And for anyone who needs to be told these are only my thoughts and opinions. You should always due your own DD before making any kind of investment.

Good luck to us all and to MEO

Sunseeker