new ann - mog aquisition of 15% of artemis , page-10

JeSSW,
I can't see how MOG win if MEO fail to commit to drilling a well. Here is an extract from MOG's ann. on 29/9 which indicates that the acquisition of Gascorp Australia's shares in Rankin Trend will not proceed unless the condition is satisfied:-

"The agreement with Gascorp is subject to and conditional upon:
1. MEO providing Rankin Trend, on or before 31 December 2009, with an irrevocable binding commitment to drill a well in WA-360-P;"

If MEO does not satisfy this condition then MEO's 70% share of Artemis reverts equally to CUE and Rankin Trend (whose shares will remain with Gascorp)and MOG's SP will take a big hit.

ANZ