Anatol The farmin announcement on 14-04-2010 clearly states that the followup wells will be in the event of a successful discovery at Artemis-1.
Therefore, prior to exploration success, fair market value would only be based on the PBR spend up to and including the first well, ie, USD80mil for 50%.
You are using $250mil fair market value for 50% of WA360P which implies that PBR will still fund the two followup wells "and" pay the second cash bonus even if A-1 is a duster. Thats ridiculous.
MEO Price at posting:
31.5¢ Sentiment: None Disclosure: Not Held
