Ann: WA-454-P farm-out agreement executed with Or, page-8

re: Ann: WA-454-P farm-out agreement executed... "Modest terms for MEO, since they have to fund ~$7 mil of the well costs themselves plus 50% of any production test and/or costs above the capped amount."

Yes my mistake they are only carried 80% on the well
But $7m is around the same as the $5.8m payback so assuming the well doesnt exceed the cap costs its really just a full carry without the cash

My point still stands these deals are what MEO are good at

They should have never done all that Thailand and Indo PNG drilling on their own. They deviated from what they were good at and paid the price