Yes the wording is verbatim. Whether this is a pointer to PBR or not we'll soon know. The first ASX release with this exact wording was in 2009 and soon transpired to be PBR.
Regarding TS I think the farminee to Heron will hold the key. I also think this farminee will not be one of the current neighbours. My reasoning for this is MEO is trading at or near cash value. If any one of the neighbours were really considering the TS option they'd just take over MEO and get $100m cash, 360 and 361, as well as 68 and the new permits. Essentially they'd get TS for free.
So the Heron preferred farminee must see merit in the TS option, other wise they wouldn't be the preferred farminee. If the farminee is indeed of the calibre of PBR and then kick starts TS then I think this will change the dynamic of the surrounding fields.
Whoever the farminee is, I suspect the ongoing sales of portions of the neighbouring fields will be integral to the farmin result/terms, so we could be waiting a while.
MEO Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
