"Artemis is over as far as free carry or any cash consideration for future drills for Cue MOG"
There you go again. The free carry is over for MEO too! Artimis 1 was not a success.
"The point is meo have the cash Mog don't and cue probably don't either."
CUE have $47m in cash plus US$8m receivable for the sale of AC/RL7. Easily enough to cover 15% of any subsequent drill.
Separately on NT/P68, I was just reading MEO's website and under farmin opportunities is says the following:
"MEO opened its NT/P68 data room for prospective farminees to undertake a technical evaluation of the Heron gas discovery with a view to co-funding appraisal drilling. The NT/P68 Permit is located in the Bonaparte Basin in the Timor Sea. The permit contains two gas discoveries - Heron and Blackwood."
The key word being "co-funding". This suggests that MEO isn't going to be free carried on two $60m appraisal wells.
MEO Price at posting:
21.5¢ Sentiment: Buy Disclosure: Not Held
