blame meo management, page-22

Could somebody please paste the text from under the heading, "International exploration and production"?

http://www.statoil.com/en/ouroperations/explorationprod/internationalfields/pages/default.aspx

MEO has been very close with AK, major office in Melb, as is MEO. AK are close to Statoil.

Statoil are into expanding GTL/Methanol/GTL, and the only dot they dont have on that map is Australia!

The minimum terms sought by MEO were announced as early as May 2009, summary below.

Terms:
Component Minimum Terms Sought:
1. Seismic back
Costs
Back costs for 100% of actual costs of MEO and Artemis 3D surveys.
(Approx US$8 million to be verified by reasonable provision of information,
payable at time of execution of Farm-in Agreement)
2. Primary Well
Costs
] 2:1 Promote on primary well up to 50% equity (i.e. 100% of primary well
costs would earn 50% equity)
] Well cost uncapped
] Production test included
3. Secondary Well
Costs
In the event of a successful primary well (hydrocarbons recovered to
surface):
] 1.4:1 Promote for 2 follow-up wells (Promote to be applied to MEOfs
share of well costs. i.e. if earning 50% equity then Farminee to pay 70%
of cost of 2 follow-up wells which is Farmineefs 50% share plus MEOfs
residual 20% share)
4. Other Other terms offered by Farminee to be advised