firb approbal may not need? why?

This subject is moved from Colin thread to her to discuss more about is.

Briefly:
I said:
The only important thing which I can bring to your attention from my conversation (with Colin) is about FIRB process; he said "we MAY NOT need it". We meomites may think about this detail.

zmzhu said:
why MEO may not need FIRB approval?

mltis said:
The project may be smaller than what requires FIRB approval. I think the amount is $200mil - if anyone knows for sure, please confirm.

mrmoshe said:
"The only important thing which I can bring to your attention from my conversation is about FIRB process; he said "we MAY NOT need it". We meomites may think about this detail."

Thanks Anatol.

That little tidbit opens up a whole new thinking to me.

Could this still be a US company (which doesn't need FIRB approval due to the AUS/US Free Trade Agreement) and the one huge energy company that isn't in Oz is Occidental Petroleum (OXY)

They certainly fit the bill with other bits of info we have gleened from management.

They are a big player and make Petrobras look small if you look at this table of exploration & producers:

http://seekingalpha.com/article/186935-top-global-energy-industry-companies

I said:
I don't think it is an US company as the FIRB approval was an issue from the beginning.

I am thinking if the size of the deal is changing by the time, depending on market value of MEO (changing sp value), or something else, Let's think.