"Might be a dispute between CUE and PF but it is still MEO's problem.'
I say:
You right! That's where the buck stops ..MEO picked them not you or I ,under the original Farmin Side agreement arrangements between the "three musketeers" (The MEO/CUE/MOG show... you know ,"one for all and all for one" The PF requested some amendments to the SA...not MEO ,nor you or I.
You say:
"MEO's preference is to farm out to PF and clearly did not want or expect this difference of opinion."
I say:
Spot on...But CUE knew what the score was re side agreements and they also knew the identity of the PF late last year.
CUE have contemplated their navel over the issue for some time and have been baulking until today where they have given an ambiguous (IMO) announcement to the market.
CUE and the PF do not see eye to eye. MEO is caught between a rock and a hard place ATM.
MEO have given the market the Exit strategy. That is they will go it alone if they have to and re-open the data room.
Many of the MEO longer term holders (forced or unforced) have advocated this strategy since late December, the "WYSIWYG or BUGGA OFF" strategy.
At least CUE have come clean today! Pressured into it!
lastly you say:
"....and at the end of the day MEO selected the PF on the basis that they felt confident a deal could be done."
I say:
Agree again,but they did not expect the CUE response,did they!?
Bottom line ..A good deal is a quick deal...A delayed deal is usually a DEAD deal.
It should be crystal clear to all as to what is going on now.
All shatreholders can now make an informed decision as to what you will do with your shares based on the information provided by the three Muskateers this week. It's not rocket science!
Cheers,
HR
Disclaimer:Strictly My opinions above ,like them or lump them,cut my thumbs off,throw stones etc etc , I don't care...but spill red wine on my white shirt,then I might get upset! :))) just spent a fortune on Nappy San! LOL
MEO Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
