I think you maybe forgetting the workup they have done and remember Artemis is just to the north of Wheatstone a proven gas resevoir. Yes MEO put the figure on it of a 32% chance, but if you don't believe that put it this way, if Woodside thinks its worth a shot and willing to throw $25-$50M at it, then I think its worth the risk as well. Risk v Reward.
If Artemis is proven then MEO, MOG and even CUE, will be billion dollar companies. More KAR's in the making.
In the shorter term though, once MEO announces a deal, MOG is sure to see a rerating as the main condition of its transaction will be met. If it doesn't come sooner.
Cheers
MOG Price at posting:
22.8¢ Sentiment: Buy Disclosure: Held
