It seems to me we wont know the name of our suitor till approvals have been signed off completely by a school of parasitic catfish sorry....... lawyers on both sides and then they also will keep mum until FIRB approval is formalised. This could conceivably take months.
In the past I have read too much into announcements whereas management have actually told us very very little, the announcements appear to be vague at best. Nowhere have we been told specifics such as the farmin partner's identity will be announced by a certain date and on each ocassion we get upset because we believed this would happen because we read between the lines but incorrectly. Only words such as.... farmin transaction and approval enables finalisation of documents to complete the farmin, which quite frankly is pollywaffle.
Why is FIRB approval required , who knows as we have not been advised. A hint might well be in an earlier ann that 'arrangements to accommodate future implementation of an integrated LNG project have been agreed.' and ' additional analysis and discussions are required with respect to the potential implementation of an integrated LNG project in the event of exploration success'. The question must be asked why is FIRB approval required but I am guessing it may have something to do with the value in the event of exploration success ?
Could be way off track and dont expect to be any wiser for at least another month or maybe 2. At least we can have some confidence knowing our suitor has given board approval.
MEO Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
