ron, wouldn't they want to wait for the farmout announcement?...

ron, wouldn't they want to wait for the farmout announcement? Sadly I missed the excitement of MOG today ...

reason being, pre-farmout the split is 70/15/15. Both 15's are free carried by MEO to the first well yes? Post-farmout the split is 50/20/15/15. So crudely this would peg CUE and MOG to 3/4 the value of MEO as a minimum (using only Artemis) at the first well. What MEO gains by the farmout, goes into paying carry of the share CUE/MOG(plus some spare coin one would hope).

Hence why MOG stopped at 40 cents today (I think)

news of the first well being positive and hey presto ... then MOG can leverage a better SPP from there. Doing it now and they lose the benefit of a possible positive well test. They could then raise more for their Artemis plans at the same time?

It would be interesting if they did a raising now, I wonder.