new ann - mog aquisition of 15% of artemis , page-16

One thing I might add Ute is that MEO could retain more than the 20%.

20 % is not set in concrete as MEO's farmin brochure says "Up to 50% gross equity'. MEO could retain more, find a partner for the Tassie Shoal project or just get up front cash/capital raising platform for the Tassie Shoal project.

Because of the timing by being in the right place at the right time MEO have a great bargaining tool.

The longer negotiations take, I feel, is not because of MEO being gazumped but more because the MEO executive are ensuring the best possible deal is being delivered.
I don't think there is any need to worry any more than usual with these speculative stocks IMO. At least we're not waiting for drill results this time.

I hope they have learned from previous sorties that a deal based on one drill result is not good for long term planning.

Not intending to downramp MOG but the fact is at that they are at that place with regards to WA 360P - if all goes well with MEO's farmin and they take over Gascorps 15% then they are totally reliant on a drill strike. Looking at the MOG website I cannot find any forward planning by that company. I feel Moby Oil is just a conduit for Albers to shift his interests around. All his announcements seem to be involved with free rides on other companies farmin deals. IMHO MOG are speculative to the extreme. They have their fingers in numerous pies. If one strikes then they will soar but if not........

I think Albers could see the potential deal being negotiated by MEO and didn't want to be left out ....... which may have happened if 15% had stayed with Rankin. I stand to be corrected.

MEO, on the other hand will still have more robust interests both in the Carnarvon and Bonaparte Basins. The difference is that MEO are taking an active rather than passive role.

Just thinking this through.