I agree with TOT in that if MEO stuffs it up then 50% reverts to CUE.
Now if you were CUE/MOG and you farmed out 70% of what is now known to be a 40% GCOS of 20TCF what would you do to get it back?
Maybe throw a spanner in at the last minute helping to assist MEO to default 70% of Artemis to the original owners. Considering it has taken MEO this long to get here it only takes this deal to fall over and the renegotiations could take a long time. If the side parties stall us once more then it's end of 2010 and MEO loses 70%.
If I had to stall things for only 9 months to get my 70% of a sure thing back that's what I'd do.
I don't like the senario but I smell a huge rat.
MEO Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held