new drill time frame, page-9

True, MEO r the operator at A#1, but PBR r funding it, so wouldn't want any excess cash burnout.

A batch of heavy mud sacks is much cheaper then any drastic action. Besides, post A#1. PBR has the option to assume operatorship.

The key terms of the farmout were:

- 'Bonus' of US$31.5mil for MEO on an initial discovery &

- PBR to fund MEO's share of costs for two followup wells @ US$62mil/well (i.e, total US$124mil worth costs).

Link frm the farmout below.

http://www.asx.com.au/asxpdf/20100414/pdf/31prs46zm8k3r1.pdf