new top 20 shareholder list published, page-9

ANZ

Good to throw these ideas around. I'm not researched in joint venture deals, take-overs or off shore drilling CAPEX... so thanks for your input.

I guess MEO's attractiveness to T/O or a JV offer depends on how possible the 20TCF LNG in the data room looked to the big companies as being recoverable. Obviously not bad considering we hear today that they have had indicative offers on the table.

Considering Gorgon is worth 50 billion in exports, 350 mill may not be a bad bet. The fact we here in HC land probably don't really know the true risk / reward ratios at play here. I figure the 32% chance of success mentioned by MEO is a very arbitrary easily quoted industry standard figure. I'm sure those in the industry who read these seismic charts for living and have investment history in off shore drilling would know the real % risk / reward ratios in what MEO has offered.

If the competition for JV is fierce, as we all hope, then a T/O may come into play....and we can assume the 32% chance of recovering LNG maybe not so slim. We'll see.

If company X did successful JV with MEO/CUE and then start to recover some of the 20TCF then it would seem an expensive exercise not to T/O considering the shared rewards.

MEO's other permits in the area and Tassie Shoals may also have their own attractiveness....It's not a complicated company to break up.

So again I'm not having an opinion but rather offer a thought.