large seller, page-49

Shrewd
Valuing prospective resources (Artemis) is an interesting process.
MOG released an Independent Report yesterday and right at the end are some tables that show the value of prospects based on recent transactions, (by Industry Players).
Looking at MEO's desired farmout terms, they are attempting to sell 50% of the permit for USD90mil/A$100mil
(Refer MOG's explanatory memo 27-11-2009 page 162)

However, when the drill rig gets onsite (2H 2010), different factors come into play and the market (Punters) tend to focus on prospective resources x NPV/brl x Chance of Success

At the moment, MEO market value seems to be somewhere between what Industry Players will pay for a prospect and what punters will bid it up to when drilling nears.