Not sure about the next few months, however the trigger is more so for next month.
Given the recent developments, with MOG taking up Gascorp's 15% share, perhaps the dye is cast. We dont know the official word from MEO on the details of the farmout.
IMO, MEO aren't after here to recover the US$9.6 million expenses incurred for the seimics. There's lot more riding on Artemis given the nearology to existing fields.
In the meantime, chk out the rational below on the numbers for MEO, after its 50% farmout. The calc's below, is what the company thinks its worth in recent times, both risked (at 32% POS) & unrisked levels. They've been quoting these figures on their presentations, should u b wondering.
Artemis UGIIP: 20.3 TCF x 60% recvry = 12.18 Tcf Recv Gas MEO's 20% share: 12.18*20% = 2.436 tcf Value @ A$ 0.625c/GJ= A$1522m Shares on issue: 417.33m Unrisked value/sh: 1500/417.33 = $3.64/sh 32% risked: 480/417.33 = ~$1.17/sh
MEO Price at posting:
66.0¢ Sentiment: Hold Disclosure: Held
