risked value .. up to spud?, page-25

The GCOS has nothing to do with fixed payments, it is fair to take the $1.17 and multiply by 1.25 based on MEO acquiring an extra 5% of Artemis from MOG.
Which is now certain since Petrobras have got FIRB agreement.

For the original $1.17 risked value see page 20 of 20 in:
http://www.asx.com.au/asxpdf/20090915/pdf/31kqhqn00jsf46.pdf

For the explanation of the GCOS @ 32% see page 33 of 37 in:
http://www.asx.com.au/asxpdf/20091118/pdf/31m4d92jy4w92v.pdf

For explanation of why anyone would invest in Louisiana oil and gas, see www.Ihateresearchingmyinvestments.com.au