No real need to read the details below again.......but to me we know three things. Everything else is speculation. 1. Everyone wants it to work 2. CUE has issues with the contract detail (not the farm in over all) they have been asked to sign 3. Until we are advised otherwise, all are working to resolve the issues CUE has with the detail
MEO - "Side agreements were executed by all except one party on 5th March 2010 Remaining party advised on 17th March 2010 it would not execute the side agreements as currently presented Three of the four parties executed the two side agreements on 5th March 2010. The remaining party advised on 17th March that its board would not execute the documents as currently presented. MEO has invited the remaining party to table their substantive issues and continues to seek an expedient outcome that is acceptable to all parties............While the Company continues to expend every effort to ensure that the farm-in transaction as envisaged will be consummated. "
MOG - "While Moby is not a party to the negotiations, it has been supportive and remains supportive of MEOs farmout endeavours. Moby recognises the technical skills and financial heft that MEOs proposed farminee could bring to the joint venture.......Moby has no issues with and has supported the matters sought by the proposed farminee. "
CUE - "We are continuing discussions in an attempt to resolve these differences."
MEO Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
