farmout announcement, page-4

Hi Shadowboxer

I agree - the longer it takes the more likely it is to be an o'seas company.

Regarding the confidentiality agreement it did start with the farm-in negotiations in Oct 2009:

'A condition of the farm-in negotiations requires the identity of the preferred farminee together with the terms
of the farm-in agreement to remain confidential until these final approvals have been obtained.'

In Nov 2008 we were teased with:

'The preferred Farminee is a major international petroleum and energy company. Its reputation, size and independence will provide substantial long term benefits for MEO.'

Hence the long wait and speculation in the MEO forum about the identity of the farmee.

The farmee had to go to a board meeting in Dec before ratifying the deal before they could continue negotiations. As you say, the identity was not known until the binding agreement with PBR in April 2010.

Even then we had to wait for the government approvals and agreement from the PPs re any Gas/LNG development. This was not until June 2010, eight months on.

This time we will have to wait for the negotiations to be completed and, if successful, the farmee company's stamp of approval. Then it will be on to government approvals but this time there won't be any third party stoush.

It seems like 360-P all over again. I wonder if Easter has held up the farmee's meeting?

We can only wait and see while the SP does its own thing and cheap shares are made available.

#:>))