meo chart, page-34

Hi DD,

"I would not be surprised to see a secondary farmout closer to spud date, particularly by MOG which now has big exposure to Artemis (relative to MC) but very little cash."

Agree mate and have been on this line of thinking for some time, although i think i upset some MOG holders when i suggested it a few months back. Don't know wether i have spent to much time looking into this but to me it's bleeding obvious as to who that might be. Don't know that the MEOmites are ready for another conspiracy theory just yet. At least we can feel safe in knowing we will have plenty of cash in the bank post FIRB, a high COS 12tcf well to be drilled later in the year and the possibility of further JV action to boost the fundamentals. Would love to see some action in regard to TS prior to #A1, a buffer so to speak.


Also mate i have a question as i have been searching but can't find the answer i'm after. From MEO website in regard to NT/P68 "The initial 6 year term of the exploration permit expires in February 2010 and an application has been submitted to the Designated Authority seeking renewal for an additional 5 years. Renewal involves the mandatory relinquishment of 50% of the permit area." So we need to relinquish 50% of the permit. Was this in any of the recent announcements (LT holder here so when i say recent within last 12 months) as i don't recall it. Probably been staring me in the face but happy to be pointed in the right direction if anyone knows?