Apologies for the MC error - a combination of old notes and newborn associated lack of sleep.
MEO's free carry is contingent on success - which is why I stated that the first bonus is less risk - ie, we agree.
I would however be a little hesitant to claim MOG = $1 sp = $288milllion MC. The 15%WI x 32% GCOS = 480million Then A1 is not getting production flows.
MOG needs a MC of 133million to raise at 10% discount and keep below 15% dilution - this would be the best case scenario imo. equates to - 46cent sp
I hold MOG as well. But MEO is well placed with sufficient cash to acquire quality assets over the next 18 months, compared with raising enough capital to de-risk Artemis.
I hope you're right though - MOG at $1 bodes well for MEO.
MEO Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Held
