Seems we are now looking for reasons for this to not work out....

Seems we are now looking for reasons for this to not work out. MEO have raised the cash to go it alone if we are talking worst case, which isnt all that bad to be honest although with a major onboard it will significantly derisk the drill campaign. Dont forget till the deal is signed and sealed MEO holds 70% of Artemis, if this particular deal falls through for some reason (dont think it will) others will step up you would think. Artemis will remain with MEO whatever the outcome, so 20% with major partner or 70% with no partner and cash to drill is a glass half full which ever way i look at it.

http://www.meoaustralia.com.au/icms_docs/61118_WA-360-P_Farm-in_Progress_Report.pdf

"Concurrent with this approval, MEO has triggered its option to fund the Permit Year 5 (commencing 1st
February 2010) commitment well in WA-360-P, completing its farm-in for a 70% interest in the Permit with
Rankin Trend Pty Ltd (a wholly owned subsidiary of Moby Oil and Gas, ASX: MOG) and Cue Exploration
Pty Ltd (ASX: CUE). MEO will retain a minimum 20% interest (* refer below) in the permit post farm-out.
Discussions have commenced with drilling rig operators aimed at securing a drilling rig for the second half
of 2010 to drill Artemis-1 which is targeting mean prospective resources of approximately 12 Tcf."


Confucius say "To see pretty nurse, you must be patient".