Ronstieb,
Apologies for the MC error - a combination of old notes and newborn associated lack of sleep.
MEO's free carry is contingent on success - which is why I stated that the first bonus is less risk - ie, we agree.
I would however be a little hesitant to claim MOG = $1 sp = $288milllion MC.
The 15%WI x 32% GCOS = 480million
Then A1 is not getting production flows.
MOG needs a MC of 133million to raise at 10% discount and keep below 15% dilution - this would be the best case scenario imo.
equates to - 46cent sp
I hold MOG as well.
But MEO is well placed with sufficient cash to acquire quality assets over the next 18 months, compared with raising enough capital to de-risk Artemis.
I hope you're right though - MOG at $1 bodes well for MEO.
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Ronstieb,Apologies for the MC error - a combination of old notes...
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