pbr $ artemis possibilities

I believe PBR will drill Artemis again if a deal can be made.

Here is a definate senario

They could drill three holes at a approx cost of $125m.
PBR tell Mog & CUE to pay their share of drilling costs.
CUE 15%= $18.75m
MOG 10%= $12.50m

These two do not have anywhere near this type of spare cash.
The alternative for MOG & CUE is to sell their share to MEO.
Then MEO has 50% PBR 50%

MEO offer PBR another 20% as an incentive to carry on with the project.
PBR will then have 70% and MEO 30%.

Think about it. 2 companies sharing 12T cu.ft Gas is far superior than 4 companies sharing the spoils.


PBR have long pockets and maybe long memories.
CUE caused them big problems if you remember; refusing to sign the farm in agreement.
So this would be one way of getting rid of the other two hangers on and make Artemis worth pursuing; and much more profitable providing they find gas.
I am not saying this will happen but it is possible.

Anyhow its just what I have been thinking. We do not know what is going on behind the scenes yet with any wheeling and dealing.

It would make a Ball Busting Deal if it happened though.

We have to wait and see. I am holding and waiting.