day 2, page-120

Is that from MEO's extension from 2009 (as they are a farminee themselves) for CUE\MOG(Rankin trend)?. My feeling is MEO's farminee wants 2011 to drill and CUE isn't happy with a second delay (especially when MEO has the cash to commence now via the cap raising for exactly this purpose).

Overall some have said MEO's farminee has no impact on CUE\MOG, to some degree this is true, however MEO still needs to meet its obligations as it is the original farminee from 2007. They have delayed one year from obligation with a variance already.. if this 2SA is focused around a new drill date 2011 onwards then can't blame the non-sig, not when MEO have the cash to meet their obligation now. A year of delay with no compensation will see the other JV's Shareholders suffer over time with the unnecessary wait time on the stock bleed down. MEO need to drill this year or the farminee need to drill this year, otherwise pay up compensation to the original owners for a second delay to offset lost sp\value. My opinion only.