Option to farm-in to WA-359-P and/or WA-360-P to earn 35% interest • MEO has an option to make an irrevocable commitment by 1 January 2009 to drill a well in either or both permits or withdraw from either or both the permits. • MEO has granted RDI an option until December 1, 2008 to earn a 35% interest in either or both permits (MEO 25%) by funding 80% of the cost of one exploration well. • RDI to fund 100% of MEO’s share of two subsequent appraisal wells in the event that first well discovers hydrocarbons.
MEO Price at posting:
13.0¢ Sentiment: None Disclosure: Held
