I sense a lot of unnecessary anxiety here with the FIRB - this really is a non event just a formality. The usual procedure would have been to sound out the views of the FIRB before the parties even got to the preferred partner stage. I would not waste energy worrying about this non event.
If the Farmee is indeed the big B as the Fin Review speculated, then what you see is a giant with enormous financial clout and a desperate need for LNG in its home country. Very good combination.
IMO a likely scenario would be - in the event of gas discovery - to have the gas processed through existing LNG plants. It is not so important which party gets to process the gas - what is more important is that an Artemis discovery could be monetised [money in the bank] in the shortest possible time frame. This obviously has to be the preferred outcome for MEO CUE MOG - no point having a discovery sitting around for years waiting for a development opportunity.
The reputation and size of the partner is important in that it gives MEO credibility in its dealings with other major international parties regarding its Timor Sea assets. I see the TS assets as very important. Hopefully this year - management can tie up another major international - Chinese maybe - into its TS methanol/LNG development plans. I have confidence in managements's deal making ability. A deal struck here would greatly underpin MEO's value - hopefully this is done before Artemis is drilled.
MEO could be on the cusp of a very bright future - in management's deal making ability I trust of course! Seriously.
MEO Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held