new ann - mog aquisition of 15% of artemis , page-15

Lest, MEO have no ownership of Artemis - they get 70% upon fulfilling their obligation to fund drilling. They can't fund drilling so they are farming out their farm-in.

If the deal goes ahead, this is what will happen:

CUE & Gasorps 100% share will fall to 30% (or 15% each);
MEO will take ownership of 70%;
Gascorp will hand their 15% to MOG;
MEO will then give 70% of their 70% to the new player;

CUE will end up with 15%;
MOG will end up with 15%;
MEO will end up with 20% (hopefully, but maybe 15%);
XXX will end up with 50% (hopefully, but maybe 55%);