Having had a chance to sleep on it, here are my follow-up comments and observations from the AGM. I didn’t take much in the way of notes, but here’s what I’ve put together today.

Wells - #3,4&5 were about $1 mil each – to 5,000 feet – the Copper Ridge formation. The formation is fairly homogeneous, with up and down trends in it, which Peter gestured to. He said that they understand the formation trends and fracture network, so no, they don’t need to wait for the partners to agree to the completion plan before drilling JB#6. They know what they’re drilling for and where it will be. A big question is how long will the frac be good for. Maybe they have to do it again in a year.

Peter said that they know the rough extent of the formation, which could extend all across Morgan County, and into the next one. While MEO may want to tie-up more land before issuing a NR, at some point the company’s ability to drill and produce all the tied-up plays will be more than it can handle. Piggy would be the label for such a strategy me thinks.

Before mgmt can have negotiations with suppliers, so they can present a plan to the partners, they have to have test results. Since two supplier meetings were being held yesterday, then it’s logical for us to conclude that test results are already in. Therefore, the Material Information NR should be out now, not in 4 weeks. Guess we got buffaloed yesterday, just not as bad as mgmt wanted us to be.

Well # 3 production is up-hole from the Copper Ridge, therefore, we (us shareholders / company owners) have 3 formations. The gas at 8200 ft., the Copper Ridge, and the formation that the 20 or so wells that were sold/given to Austin and the #3 are currently being produced from.

Bill said he was threatened with physical harm by the guys in Tenn. if he revealed any technical info, but repeatedly said that “the tech guys were really sorry they couldn’t attend the AGM.” Bill that really damages my trust for you.

A comment was made that if MEO needs to raise cash, a higher share price would mean fewer shares would have to be sold. Bill said that he didn’t know how far the $1.25 mil that Blackrock has committed will go towards MEO’s share of the completion work and drilling of well #6.