Everything comes back to price.
Farming out 30% for $5m, no go.
Farming out 50% for $3m drilling, no problem.
MEO spends $1m, gets $1.5m in equity share drilling paid, and in the process increases its interest in the rest of the PEL's.
But hey, I'm to Rob Gard! (Who I notice is no longer listed as a senior exec, instead, his boss is not director of BD).
meo investor update, page-6
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