mog looking for big chunk, page-7

from the announcement, I am assuming the Farminee wants a delay in drilling that will go beyond the JV agreement and thus requires the consent of the JV.
this has implications for MOG especially as they have little cash flow and will need to raise money to tide them over until the farminee does start exploration.
is it in MOG interest to let Meo default and thus let 50% revert to MOG?