The impressive farmout JV that MEO skillfully negotiated with Brazil's Petrobas in 2010 actually took over 4 months to finalise all the details before an announcement was finally made. Nobody knew who the oil major was either until the announcement was made due to the secrecy surrounding the negotiations. I remember only to well sweating on that announcement coming out back then.
Considering it's only been 2 months since the data room has closed, I'd say we're on schedule for an announcement sometime in March from management IMO!
QFY Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
