legally binding, page-17

Couple more points

The pre Sept 2009 FIRB threshold was $100mil

MEO's targeted farmout deal is estimated to be worth USD$90.8 which is just over the old threshold at current AUD/USD FX

The USD90.8mil figure comes from page 167 of an independent report done for MOG and released to ASX on 27-11-2009.

ie
Seismic back costs USD8mil
100% of first well and test USD34.5mil
70% of two optional followups USD48.3mil

So I can understand MEO could need FIRB approval based on the old AUD100mil threshold.

Anyway, will be interesting to see what eventuates and if the FIRB factor was a clue (or not) to a decent deal in the wings.