According to MEO if the deal was signed sealed and delivered they would announce it subject to FIRB approval.
Simply,on execution of Farm in agreement and prior to FIRB approval they would release an announcement..It's in previous announcements.
WE have no announcement yet! There is a hold up somewhere in the red tape.
Ya alluded to this in his post tonight.
There are a number of statutory forms that must be lodged to various State and Fed government bodies prior to a Farmin deal being ratified by the regulatory bodies.This is before the FIRB approval. ASIC keeps a "register of charges" that has to be filed with them under section 263/265 of the companies act, prior to a Farmin process.
This register ,in a nutshell, tells you who has a lien over a Property/Asset non withstanding of the asset class.
For a Farmin scenario ,obviously, the control of the asset changes and it must be notified with ASIC.Once this is registered then it becomes discoverable by Sleuths/Sniffer Dogs etc that need the information ..for a fee of course.
This all pertains to Section 263/265 of the corporations Act 2001 and specifically is in relation to the registration of the documents that need to be lodged relating to company charges.
Name registrations are a different section with ASIC.
I will give you and everyone some links below for some, LIGHT ?? :0)) , weekend detectve work on this.
It drove me to drink reading the material so anyone out there should read it as well to form their own opinion..check with your lawyer ..you will need a specialist and he /she will charge like wounded bull to give the info you seek.
To anyone that reads this post:
Drive yourselves insane and spend the weekend interpreting Government regulations,then report your finds back to the MEO forum.It drove me to have another drink.
The MEO HC team has many advocates and as such we probably,collectively, would know more than the experts if we put our heads together.
Sheepdog is right with his last post and he deserves the DOGGONE DETECTIVE of the year award ,maybe the GOLD BONE trophy, but it is still not that clear IMO.
A long time ago I posted on the Albers tentacles in the O&G plays in Oz and NZ and sheepdog has been sniffing the same trail ...give the dog a bone! A big Gold Bone. At least its broken the tedium.
So Anatol and everyone else interested..here are some links :
This pertains to the Australian register of company charges and relates to section 263/265 of the corporations act 2001. ASIC keeps this register and MEO must have lodged the forms described as part of the procedural paperwork.
Trick is to work out how to access this register without paying.
2.
A very recent example of a farm in involving Octanex (Mr Albers again!) and Orion. Should we expect something similar to this format when the MEO Farmin is finally announced to the SHs? This was an 18th of Feb 2010 deal. http://www.octanex.com.au/dl/bid-for-orion-petroleum-limited.pdf
This is pertinent to the MEO deal relating to regulatory procedural requirements...what documents need to be lodged and to whom.Links to Links to more links.
Meanings and definitions with examples ..tax considerations
There is a lot more out there..but after almost going blind reading through the fineprint I need to get back to a nice red for a change.
Rouge Homme Cab Merlot..haven't tried Rouge Homme since late 70's..it will be interesting..might go blind after drinking it!
Enough Chit Chat..get onto it.
Cheers all
As usual the wine is making me do it ..HIC!..just joking |:0))
PS:For the Bloodhounds, the key to it all is following the regulatory trail! not the media or the non annoucement announcements.Only if you have the time.
MEO Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held
