legally binding, page-9

Reason I mentioned abt the recent Santos-GDF Suez (french mob) deal, the offer comprised of 2 parts & needed FIRB approval, here's the breakdown

1) US$200m (or A$243.55m) for 60% sale of STO's fields (Tern, Petrel, Frigate in the Bonaparte Basin)
2) US$170m (or A$207.01m) - share santos's pre-FEED costs for the LNG project
Total: US$370m (or A$450.56m)

Some other recent deals in the junior energy player spectrum, offshore WA are:

1) Coogee Resources sale to PTTEP (Thailand) sale of the Montara field (recent jackup rig disaster remember!!) for $248.4m in Feb '09.

2) AED-Sinopec deal for 60% stake in puffin for $617m (this deal valued AED's Puffin field at $1b) in March '08 (FIRB cleared on 28/4/8).

My take on MEO's farmout so far is, 'someone' must have the gall to outbid Chevron or WPL for Artemis.