IS MEO trying to get rid of the small holders such as CUE and MOG, so as to join with Petrobras in drilling the block together ?
After a duster both CUE and MOG will be happy to relinguish there percentages rather than paying their way if another drill is scheduled .
MEO 5%
MOG 10%
CUE 15%
PBR could easily end up with 75% of WA-360-P
remember this ..
24/03/2010
CUE announces
MEO has been in negotiations with a potential farminee in relation to MEOs 70% interest in the well. Cue is not a party to those negotiations, but has been asked to
vary a number of significant provisions of the current Joint Venture Operating Agreement
(together with a Heads of Agreement WA-360-P).
In our view the proposed amendments disadvantage Cue and its shareholders relative to the status quo. We are continuing discussions in an attempt to resolve
these differences.
Cues 15% free carried interest in the Artemis 1 well will not be altered by the outcome of these discussions.
10/06/2010
MOBY SALE OF A 5% INTEREST to MEO IN WA-360-P FOR US $7,000,000
25/11/2010
Places 62.8 million shares at $0.52 to raise gross proceeds of $32.6 million
TODAYS TRADING
143 Million shares Traded
T/O Value $32.1 million
current price sitting on Cash value of MEOs SP
Coincidence ?
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- coincidence or set up ?
coincidence or set up ?
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