Delay was due to complexity of new structure involving YEP and MGN, funding was always going to happen. MGN will now be attempting to encourage other parties to drill early as unlike WA360 which was apprasial, Evans Shoal is a proven reserve. Unlikely to see much involvment from MEO in this project unless they buy Shells share eg 25%.
However, now this project is moving ahead, Shell may now decide to keep there interest in the permit.
Only speculation on my part, but be a good move if MEO decided to become a party in the Evans Shoal project what you think iam.
MEO Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
