ceiling at 32c?, page-21

WC

if MEO does not start drilling by 31st Dec does MOG not then get 35% extra of the permit

"The MEO farmin terms provide that, by 31 December 2009, MEO must
either commit to the drilling of a well in WA-360-P or reassign a 35% interest in the permit to each
of Rankin Trend and Cue. By making a commitment to drill a well, MEO will thus be required to
meet all of the costs of that well, including those costs attributable to each of the 15% permit
interests held by Rankin Trend and Cue."