I would say MEO are driving the negotiations, but it is possibly some of the PF terms that are the sticking point for CUE. That said it would then be in MEO's interest to broker a compromise between what the PF/MEO want and what CUE wants. I would also think that it would be still in CUE's interest to accept the JV agreement, as long as there were some steps by the farm-in and MEO to meet them in the middle somewhere.
most negotiations are not just black and white - there are always shades of grey.
So unless there is a significant breakdown in communications or the terms just cannot be changes, IMO I would expect CUE, MEO & PF to come to some agreement fairly soon.
MEO Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held
