The cancellation of the PP speaks volumes to me about the finances of MEO:

1) They anticipate enough cash flow from their projects to finance their operations; and

2) They can ease off on the stock dilutions. The 3.5M C$ may be the last one.

Now why would they drill a second well if the first was a bust. Looks like they were just biding their time as they consolidated the land aroung JB#2. As I stated earlier, I think that TN is shaping into a well field.

Here's to Properous New Year for everyone that has held tough in MEO.

Panamax