Good post Hotrock but I can't see this torture extending till the end of Feb.
Most of the terms were finalised months ago as management teams waited for Board approval. Now Board approval has given go-ahead and they're surely just going over some of the finer details.
And don't forget: "Commercial due diligence negotiations to finalise all outstanding commercial terms were concluded during the week of October 26th. Additional analysis and discussion was required with respect to the potential implementation of an integrated LNG project in the event of exploration success. The necessary arrangements to deal with this potential outcome were agreed and will facilitate alignment and effective operation of the new joint venture."
Any lawyers worth their grain of salt should have been back at work at the start of this week IMO (they get paid more than me and I only had a week off!). So you would think that a deal could be finalised by the end of next week.
As for who it is... I personally feel that news of Repsol's issues prob makes them more of a chance given our delays but it could just be coincidence. MEO would only need to release something if something had gone wrong not if binding agreements were going to take a little longer (remember they put no date on when it would happen).
But Petro's interest in Australia, board meetings falling on the right days and position as a true MAJOR still has them favourite as Brazil gov only a major shareholder not majority shareholder.
Anyway, the speculation has been fun but now im keen for some news :)...
MEO Price at posting:
45.5¢ Sentiment: LT Buy Disclosure: Held
