Ann: MEO Executes binding farm-in agreement , page-42

re: Ann: MEO: MEO Executes binding farm-in ag... IMHO, The possible reasons that CUE didn't enter into the LNG development with MEO & Petrobras are either:

1) Playing hard ball with a view to re-gain 50% after the twelve month MEO drilling requirement (unlikely)
2) A deal with Petrobras (or other) PF for Caterina
3) To keep their options open on the sale of their 15% of the gas depending on Caterina success

My money is on the third option with Side Agreements in place to have the option for gas sales to either the LNG JV at least the same commercial rates as MEO/MOG or sales to another LNG development.

If there is no annoucement in the short term confirming point 3, the possiblity could well be the gas is part of a farmout with Caterina or other LNG development and wouldn't be announced until all approvals finalised.

Whatever the reason CUE shareholders can be rest assured that it is to extract addtional value to CUE. I will also be watching any CUE announcement with great interest.