value of heron and blackwood?, page-18

IAM,

Thanks for the Heron/Blackwood summary.

It has been 6 weeks since MEO advised of NT/P68 progress. MEO have stated they have been investigating options to purchase gas feed for TS. Evans and Caldita/Barossa have suitable CO2 levels and are really the only fields MEO would be concentrating on so I feel the farm in and terms may hinge on two things.

1. The 40% Evans shoal transaction to Magellan - whether it completes or expires on 31st may.

2. Conoco has been negotiating with an unnamed company to sell its stake in Caldita/Barossa. These negotiations have stalled due to Conoco insisting the purchaser (???) process the gas at its Wickham plant.