The final installment of the MEO Fiscal 2008 AGM series

167 shareholders cast votes of 30, 8XX,XXX shares, 14.9% of outstanding shares.

The votes for the name change and the 15:1 were about 16 mil to 15 mil, but both required 66% to pass, so both failed.

The only source of revenue was from the Mulligan properties - Northern Alberta - Dwayne Tyrkalo's former Moonshine Resources wells.

The only wells the company owns in Tenn are the 5 wells we've extensively discussed. I went back to MEO documents from 2001 to 2006, and found numerous statements of wells, properties and production rates. Most wells were shut-in's dues to low prices back then. Since the NI 51-101F1 statements started to be issues in Nov 06, there's been no mention of these wells. Peter is only aware of the 53 wells Bill quit-claimed to Austin August 1-07. The State of Tenn has sent notice to MEO that their records show the 53 wells to still be MEO's property, not AUL's. I didn't ask if Peter was going to send an invoice to AUL for the revenues from these wells.

Charlton & Co are the Vancouver based auditors, and are used because they're cheaper than the Calgary alternatives.

A large institution is very interested in doing a PP with MEO, but said there's too many shares. This is part of the reason for the 15:1 question.

In Tenn 2008, by the time the AFE money arrived, in August, Petro Jet had moved operations to Wyoming, so another plan needed to be done. Peter said he looked at the plan when he arrived, and wasn't totally sold on PetroJet anyway.

MH#3 - oil flow was from the Stones River formation, which is in the Knox group, about 2,700' down. Yes, the underbalanced drilling, the mudlogging and cuttings analyzed during drilling are very accurate sources of information as to what's at the various depths. This is the only well that flowed to the surface, but yes, it was agreed that many wells are like this until a stimulation is done. No testing of the Copper Ridge oil formation. (usually a company starts at the bottom and works up the well)

MH#4 - wasn't as good as the MH#3.

MH#5 may not be economic. (Ed. Note) this sounds strange in that the #5 is the mid-point between the HW#1 Blowout well that was estimated to have 400-500 bbls of oil per hour, and the MH#3 that was clocked at 60 bbls per hour. I've already asked a very senior geologist, and yes, (400bbls+60 bbls)/2 = a realistic estimate of what could come out of the #5.

JB#2 - the gas zone looked good on the logs @ 8,200', but didn't work out. No info about the Copper Ridge oil formation. The discussion drifted to the Chattanoga shale. No MEO wouldn't drill horrizontal legs into it. Maybe just frac and see what happens. I pointed out that EVERY shale play in North America, from Northern British Columbia, to the shale oil in North Dakota, and down to the original shale gas play in Fort Worth Texas - the Barnett Shale, as well as the Haynesville in Louisiana - all of them, they are done by deep pocket companies and they're dilling horizontal legs 1-2 miles long, and then fracing. The knowledge needed to do it well is still in its infancy, even for the experienced companies. Therefore MEO is too small a company to risk shareholder's money on a shale play. This was agreed to by Peter, but then why was it even brought up?????

The focus of MEO is to get Pincher Creek on production, and then use those revenues for Tenn. JB#1 and MH#3.

I believe I've covered the Pincher Creek area in my AGM Part 1, so won't repeat it.

In regards to the bogeyman wax issue, I pointed out that wax is not a unique nor complex problem (JB#1 and possibly other wells), as it's been often encountered and dealt with by the industry. Yes, Peter commented that sometimes a downhole heater is all that's needed. My personal experience was seeing diesel poured down the casing bore, to disolve the wax, so a plunger lift could be lowered down the hole.

Arndt Roehlig asked if we would agree to a smaller consolidation ratio, which meant that we still had to explain the fundamentals of our objections. So we did. For well over an hour in total.

The stock option plan was approved, in spite of objections that it should not be a rolling plan. 10% of the outstanding shares was fine, a holding period was even better, but the objection was having options exercised, and more options issued in the same year. Our beloved Corporate Secretary, Larra Schaffer and her condescending attitude explained to us peasants that that's how money gets into the corporate bank account. I explained to her and Arndt that we were fully aware of that, and we're also aware that the outstanding number of share increased by 33% from the time drilling of the JB#2 started to now, and we have little to show for it, other than dilution of our equity.

Stock options can not be issued for less than 10 cents, so we have that bit of optimisim.

That's about all. If one of the others I attended the meeting with has more to add, I'll post again.

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