petrobras 4th quarter and fiscal year results, page-23

It is still only conjecture but ......

Methanol Australia Ltd becomes Petrobras Australia Oil & Gas Pty Ltd?

An alternative could be Petrobras takes over the operatorship of WA-360-P at the risked value of 130c p/s and WA-361-P at say 50c p/s giving MEO around $860m.

MEO would then be able to proceed with it's TS projects.

Petrobras would need to have faith in their geological team's interpretation of Artemis though.

This is just an idea to throw into the ring.

I am still leaning towards a J/V and the hold up may be still the legals. I feel Petrobras will want to announce their step into Oz at a major news conference but, like MEO, have to wait until the binding contract is finalised

#:>))