rgrowden -

I have been thinking for a while (obviously) about your early post and here are my thoughts (copied from an earlier post of mine) concerning the options for raising capital.

"... they [MEO] seem to be caught in a "Catch 22." If they hold back results (and that means no viable production) they have to raise capital by PP (very bad for shareholdres at this SP) or sell greater %'s to Blackrock for financing (very bad for future MEO income and sshareholdre value). If they begin production to produce cash and finance future purchases, they also show the competion the extent of the discovery. Some deep pockets could swoop in, offer a dollar a share, and snatch the whole project form the long-suffering shareholders (right when it is about to go big)."

I still believe that this the is internal struggle that has been going on for the last few months. IMO, MEO should sell more % to Blackrock. Doing a PP a this low SP (which is caused by "hiding" the results from the competition) would cost us a lot more in the long run.

- Panamax