IMO a T/O is unlikely.A major like WPL can acquire a 50%...

IMO a T/O is unlikely.

A major like WPL can acquire a 50% interest(in Artemis)for the cost of drilling an exploration well and maybe an appraisal well plus seismic back costs. This is not my area of expertise and happy to be corrected but lets say the costs of the farminee will come in at around $100m for 50% of Artemis.

A T/O of all interested parties, CUE MOG and MEO will take in excess of $700m.

Neither option guarantees success but why pay $700m to roll the dice when you can roll the dice for half the prize at $100m? I don't see a T/O as the most likely outcome.

ANZ