what going on meo, page-39

Anyone who is advocating that MOG or CUE are being unreasonable in not signing the side agreements is advocating that their rights should be ignored. This is an extract of the 2nd last para of my post today at 2.15pm:-

"If any JV party is not prepared to sign a side agreement for processing or marketing their share of the gas with the PF it should come as no surprise as it is their right to do so. MEO should not be expected to deliver on such an issue and should never have agreed to the farm-in being conditional to it"

MEO can only deliver to the PF a share of it's 70% of the permit and no more. In other words, MEO will transfer upto 50% of the permit to the PF under the farm-in agreement and will no doubt also agree that it's remaining 20% can be processed and marketed thru the JV with the PF. It cannot deliver the remaining 30% to the JV if either MOG or CUE decide to deal with it themselves.

IMO it is unlikely that the PF will walk if one of MOG or CUE does not agree to the side agreement. If the PF will not proceed without all parties dancing to its tune, then the quicker we go to plan B the better. Lets not waste any more time please MEO.

ANZ