According to what MEO have announced we know this potential deal with a major brand name goes beyond a simple farm in, from the progress report:
"Additional analysis and discussion was required with respect to the potential implementation of an integrated LNG project in the event of exploration success. The necessary arrangements to deal with this potential outcome were agreed and will facilitate alignment and effective operation of the new joint venture."
Reading between the lines this could mean an agreement or plan to build a processing plant or buy gas under an offtake deal if gas is found which would be way beyond the monetary FIRB approval threshold?
MEO Price at posting:
45.0¢ Sentiment: ST Buy Disclosure: Held
