Re: TAKEOVER BID
in response to
by
posted on
Mar 18, 2008 04:02PM
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Hi Seabiscuit1
I have much respect for all people posting on thid board, you included.
MEO is a good story that please people and they have an excellent play.
They restarted almost from scratch and did an excellent job so far with the scarce money they had.
Nobody can say there is no oil in their play. JB#1 and HW#1 are there to prove it.
But, drilling in Tennesse is tough because of ther nature of the ground. That's why they did JB#2 to try to understand how it is working down below.
MEO is a risky business and I believe everybody on this board knows it.
We got frustated at time but that's ok.
SP is only at 0.17 and reward IF they hit like HW#1 will be tremendous.
Comparison is always difficult.
There is this company looking for oil and they planned to hit the ground in April. This is their play.
CALGARY, ALBERTA--(Marketwire - Feb. 29, 2008) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros") announced today that it has signed a Production Sharing Contract ("PSC") with the Kurdistan Regional Government, Iraq ("KRG") for the 2,120 square kilometre Kalar-Bawanoor Block.
Under the terms of this PSC, which amends WesternZagros' existing Exploration and Production Sharing Agreement, WesternZagros has a 40% working interest, not subject to further dilution by the KRG. The KRG will have a direct 20% interest in the PSC. The remaining 40% will be allocated to a third party or parties by the KRG within a six month period, with a requirement to pay their share of the costs incurred by WesternZagros.
They have no revenu and no oil yet, They dont even have a hole done.
But they have the money(about 90M) and their SP close today at $2.40. They have170M shares.
So, in one corner we Meo with few money but good play in Tennessee and in Alberta. Tennessee being very close to produce with a SP at 0.17.
And, in the other corner, WZR with money but nothing done so far with a SP at $2.40
As MEO shareholder, I believe that having a SP at an average of 0.13 is a gift.
May I be allowed to dream a little to see the SP above the dollar.
Good night Seabiscuit1 and dont take hard, that was not the purpose.
Regards
ecce