Strictly speaking, the preemptive right/s held by MEO entitles MEO to simply match the offer price and acquire the interest, a process which itself would only be subject to govt approvals.
Given the extent of dilution that took place to acquire the interest in Puka, and despite the failure of the recent Puka well, MEO remain upbeat about the Shannon prospect, then it is unfathomable to me how MEO would not exercise its preemptive rights.
MEO Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
