coincidence or set up ?

IS MEO trying to get rid of the small holders such as CUE and MOG, so as to join with Petrobras in drilling the block together ?

After a duster both CUE and MOG will be happy to relinguish there percentages rather than paying their way if another drill is scheduled .

MEO 5%
MOG 10%
CUE 15%

PBR could easily end up with 75% of WA-360-P

remember this ..

24/03/2010
CUE announces

MEO has been in negotiations with a potential farminee in relation to MEOs 70% interest in the well. Cue is not a party to those negotiations, but has been asked to
vary a number of significant provisions of the current Joint Venture Operating Agreement
(together with a Heads of Agreement WA-360-P).
In our view the proposed amendments disadvantage Cue and its shareholders relative to the status quo. We are continuing discussions in an attempt to resolve
these differences.

Cues 15% free carried interest in the Artemis 1 well will not be altered by the outcome of these discussions.

10/06/2010

MOBY SALE OF A 5% INTEREST to MEO IN WA-360-P FOR US $7,000,000


25/11/2010

Places 62.8 million shares at $0.52 to raise gross proceeds of $32.6 million

TODAYS TRADING

143 Million shares Traded

T/O Value $32.1 million

current price sitting on Cash value of MEOs SP

Coincidence ?