one small point - COP interest was 51% to start with , with the option to increase it to 60% by paying 80% of the next $US125m of appraisal for P314 & P315.
So COP still to pay more funding for 314 & 315.
It's not always about cash upfront, COP are a great partner for KAR because they don't have any competing projects in Oz that they can push in lieu of Browse. Same applies to MEO, PBR are a great partner because they will be focused on commercializing this ASAP in the event of a discovery.
This is a great play & MEO have done well to get PBR on board . Lets hope the rocks are kind to us !
Cheers
Baraka
MEO Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
