Petrobas and WPL have had in place agreements of co-operation in the past.
They (PBR and WPL from memory) are involved in some (off-shore Brazil) exploration permit together, and mutual co-operation where there is a win-win I think could easily be negotiated. they know each other well enough.
The exploration is in the Santo basin off the coast of brazil.
Note: this is pure speculation from a very very very LTH.
I don't personally think a take over is on the cards of MEO/MOG as they have already commited gas, but IMO knowing JURGS, maybe he has a agreement with MOG to buy their share for a certain value on success, because, MOG and CUE are not free carried on the next 2 drills. MEO IS. So the next phase of drilling is very expensive. Production wells cost BIG BUCK and MOG don't have it. I think management over at MOG would be rubbing their hands together for a quick money spinner, take their cash and bolt, because they are out sized.
If there is a thorn in any ones side, its CUE energy IMO. They were the ones who threw a monkey wrench into the PBR/MEO gear box.
Self focused and narrow minded CUE. Did they forget that without deep pocket and lots of $$$$$$$$ artemis was in no hurry to be discovered, so for a measly concern of their's potentially could of wrecked the PBR deal.
If anyone should be bought out its them IMO.
WAITING patiently.
Am happy waiting, and am happy with the SV and the MEO/PBR team on the rig to take their time. MEO has planned this drill of A#1 with the backing of PBR down to the minute most minute of details. They were breed that way.
U C, the difference between failure and success at this stage is proceeding patiently and cautiously. Forget about the TD, let them trade in fear.
PBR, MEO and SV rig crew are all solid experienced blokes that don't let excitement of finding one of this countries potentially biggest gas plays get in their way and judgment.
Patients is the only way forward.
IMO SH are in very good hand at WA/360p in PBR and MEO.
My money is on JURGS delivering. and delivering BIGGGGGGG..
MEO Price at posting:
51.0¢ Sentiment: ST Buy Disclosure: Held
