re: Ann: 2013 MEO Directors Report & Statutor...
More detail given on the "Asian industry participant" - now stated to be Chinese, and willing to take up 50% equity.
Concurrent with developing the market, MEO also formed a strategic relationship with a major Chinese company prepared to take up to 50% equity in and operatorship of the two methanol projects. This relationship provided MEO with the financial underpinning to be able to jointly offer each custodian of undeveloped gas resources in the region surrounding Tassie Shoal a set of key commercial terms for gas delivered to the methanol plant. Operators have cited the receipt of appraisal drilling results as a precursor to engaging in further commercial discussions with MEO. Appraisal drilling is scheduled on several of these undeveloped gas resources during the 2013/14 financial year.
MEO Price at posting:
6.9¢ Sentiment: None Disclosure: Held
