o dusty,
Should Zeus be dry this will be a disaster for MEO because unlike CUE who have Maari, PNG etc Zeus is it for MEO. CUE will not be spared though however bad news is exaggerated in this market and SP will take a hit especially with the continuing pressure of sub 40 Poo
hey o dusty,
I orginally said CUE would have bottomed out around 13cents on Zeus failure because I was expecting a strong run in the sp in the lead up to spud, spud, mid drill, target zone...
The SP did hit 17cents and then it retraced, most likely on the Union issue, and profit taking...
In reality, the SP could do anything on zeus failure... its just to big of a risk to sell... seriously... downside minimal enough if you have an extra few months to wait out the rally (worst case, rally up to 13c if fell to 10c)...
which would be breakeven if got in over the next few days...

If yourve been back paid for all costs spent in the permit, and free carried on an exploration well... and lets say the well goes bad... then Technically the sp should be indifferent as you are now no better or worse off than you other wise would have been had you just sit on the permit and made it look pretty in the glossy annual reports...

in saying that though, MEO have announced recently that they are going to pursue the other two adjacent permits if Zeus is successful...(and they will upon success IMO)
CUE have one free carry in each Northwest Shelf Permit...
MEO said the next well would be within 12 months...
so Zeus is actually very important for the near term future within these permits, and within the region itself... big times ahead...

we either open up a whole new project in our asset class to add to the others, or we stay with the current asset pool, waiting on future developments... past and beyond the current 3 core developments...

I guess we wont really know how the market would react to a likely failure of Zeus... Im quietly confident from what Ive seen, but im pretty hush hush on these sorts of gambles... I pretty much bank on bankables, and take freebies as they come, were just abit lucky to have such a well now free carried and all...
looking for a new rig on Spikey Beach and hopefully free carried spud in a few months...
im more sure of this than anything ive seen... we will have to be patient if Zeus goes bad... At worst case I will have to wait 5 years to get to one dollar share and ride in PNG with OSH, STO, Exxon... and take 100-200% per year from here on in... or get alittle lucky with Zeus or Matariki, and hit it now...
Matariki also looks the goods...

I want it all now... I deserve it...

I will be patient, and quiet... and a realist...
this is risky...
im not expecting anything really... maybe just to prop the sp up for awhile well Maari comes in... hehehe...
catch all my good friends up...
Im feeling great as I always...
peace out...

.^sc