meo executes binding farm-in agreement!!, page-33

wipz,

I think everyone must have had expectations different than mine. I wanted a quality farm-in partner to invest. That is what has happened. I dont think Petrobras will walk away after one hole either way. Do you?

They know the business better than most and will know how to drill for success. MEO will get cash upon FIRB approval giving them the funds to contribute thier share to drilling additional wells. MEO now in a pretty safe position.
Not as sure about CUE & MOG, who dont get any cash out of this and may need to contribute themselves for further drilling.