Not really...they have no choice but to farm out. Not totally in...

Not really...they have no choice but to farm out. Not totally in the bargaining seat imo. They seem to need each other.

Drilling with all the risks associated is too much for such a small cap as MEO as even if they did hit gas they'd need further funds to advance the project to sales.

You need to sell the stuff to be profitable.. And for that you need the drilling, the storage infrastructure and funds to keep drilling / producing in-between payments. WPL etc...already have the buyers/contracts lined up. MEO won't be going this alone EVER. All they have done with other drilling is try to prove resources, NOT actually go alone.

Tassie Shoals is a big project that they're leading up to doing themselves perhaps or potentially also in JV. That will be only possible with a cap raising which in turn needs Artemis and other JV's turn up trumps. It's a big plan and lets hope they pull it off!

"Thunder only happens when its raining." - Fleetwood Mac

Don't you mean " You need rain for a rainbow" Dolly Parton...(Ricky Gervais)