I wonder how that term 'discovers hydrocarbons' will be interpreted. Would just a sniff in the drilling mud meet the requirement? If so, MEO stands to get a free carry for their 35% for the next two wells in this permit.
"In the event Zeus-1 discovers hydrocarbons, RDI will pay for MEO’s share of two additional wells in the permit."
I don't think CUE and Gascorp get any further carry after the first well (correct me if I'm wrong).
MEO Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held