Similar to an earlier poster, I expect PS anticipated KEA's...

Similar to an earlier poster, I expect PS anticipated KEA's demise. Hardly needed to be Nostradamus to see this coming.

In fact this post foreshadowed this a month ago:
15379059 (hope this link works) Gee there are some bright sparks on HC. LOL.

As for KEA, probably not dissimilar to where MSMN is headed, in my personal view.

Point is, MEO have a first right of refusal to acquire additional project equity. Typically, the selling party needs to initiate a sale, then, once there is an offer, the other existing holder has a certain period of time to match the offer, or, by default, waive its right. MEO entertaining negotiations before this process, would simply be a mugs a game.

There was a slightly similar process when STO sold its 40% interest in Evans Shoal to eni. At the time, eni sold a 7.5% interest to Shell, to bring eni to a final 32.5% interest and Shell up to 32.5%, thereby ensuring Shell remained operator.

In summary, MEO is very well placed to acquire the remaining interest in Puka and therefore farm down an interest in Shannon, when ready, to achieve essentially a free carry.