Allows them the 'wriggle room' to go unconditional on the drilling commitment. Good move. If the cash is not required to drill then it can be utilized for a share buy-back or returned to shareholders. This move confirms the companies intentions to commit to drilling imho and takes the pressure off. 100m shares at 50c? Also tells you that serious backers like what MEO have achieved with the farmout negs. DYOR
MEO Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
