legally binding, page-22

At today's mkt close, the mkt cap is $205.205m & MEO's EV $164.6m. Both of which, are less then the FIRB threshold of $219m.

So in theory, someone could start buying on mkt or MEO could do a share buy-back, neither of which has happened so far or have we missed a point here. Yet, the SP has stuck to the 0.43-0.46c channel, thanks to the element of uncertainity.

Not sure if MEO's intent was to recover the US$8-10m spent on the Artemis seismics. With the recent CR, they r covered with their side of the commitment to drill.

Cash on hand is $40.6m, enough to fund their side of 20% costs.

One could only hope for further clarity in the next update, as frankly throwing in the 'FIRB' on the mkt update makes no sense, esp. when the older threshold of A$100m doesn't apply anymore. Recent deals in the resource sector are a testament of this.