From a November 2006 MEO NR -

"In late June/early July we re-completed the TexFlora (John Bowen # 1) Well in the Sunnybrook/Nashville group formation. With this work-over we accomplished a cased and re-perforation of the zone of interest, an acid wash and squeeze. The well responded with encouraging pressures and initial flow rates prompting the Company to acquire the Blowout lease project. The TexFlora Well was subsequently shut in and remains shut in."

Looks like they found out what they wanted (it led them to acquire the Blowout lease property) and they shut it in. I wonder why they did that? Perhaps they wanted to drill a deep test well (JB#2) so that they could fully evaluate the potential of all 3 properties (including JB#1 and the Blowout) because they believed that the hydrocarbons are all connected within the geology. Maybe they thought that the area could turn into a "well field" rather than just a single well.

That test well has been drilled and by now they have the answers they sought. The rest of us (in investor land) await the information. The stock manipulators continue to pick up shares on the cheap from the weak hands.

I plan to having a much larger value to my portfolio by Christmas and I will owe it to MEO.

Panamax