Farmouts should be done on a full carry....
Nen error was in only getting a cap farmout.....then the over runs distroyed the company...once the well didnt flow...game over.......small caps cant afford drills with out a full carry...
As I have noted...the Board did a fantastic job recovering the situation from broke to keeping $20million of ENI money they negotiated a settlement of money owed to ENI...great job...
Unfortunately they had no prospects to progress.....and the wolf pounced to get there cash...we all can imagine that the money will eventually dissapear and the wolf will get fatter....
Meo is massively underpriced as can be confirmed by the number of tyre kickers coming around to take it over..
UBS is due to provide a report/recommendations on a path forward to Monetise Tassie Shoal.....by end of year...hope the year is 2014...just a week away...
Then the Elephant in the room will go Boom...
Dyor
Mosman Takeover AIM:MSMN, page-7
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