FIRB does not cover contingent expenditures associated with an investment. FIRB specifically covers FDI, foreign DIRECT investment.
Otherwise every exploration company which may one day have a mine or O&G development that enters into a jv with a foreign entity would need to apply for FIRB approval, which obviously is not the case.
The primary deal is for Artemis, obviously. You obviously have not read the farmour docs though, even the old ones on the website refer to additional well commitments . . . and given the promote on this project, it seems very unlikely.
My view is that the farminee is Statoil with major Methanol and GTL experience, but we can speculate until the cows come home . . . so lets leave it at, we'll see.
MEO Price at posting:
45.5¢ Sentiment: LT Buy Disclosure: Held
