boxing day sale - 50% off a 12tcf field in wa, page-17

I think both MEO and MOG need MEO's farmout to succeed, and on very good terms.
If MEO let 50% of Artemis go for the cost of free carry in one well and seismic costs, then I think the market will heavily discount MEO's claims of 12tcf, 32% POS.

I am hoping to see MEO get seismic backcosts, 2:1 on the first well, and 1.4:1 on two optional followup wells.
That would be the deal for MEO, and CUE/MOG would remain at 15% ea carried on the one well since their farmout to MEO is a separate deal.

If MEO fail to close, then I don't think it will be good for MOG even though they hypothetically get 50% of the permit.
Unfortunately, 50% of an unfunded prospect is not worth much in the markets eyes, especially if a farminee has just walked away.
Furthermore, MOG's acquisition of Artemis/RankinTrend is "conditional" on MOG raising $22.4mil for Braveheart/Cornea.

So what comes first, the chicken or the egg?
I think MOG's RI "needs" a successful farmout by MEO.
This will "confirm" the value of Artemis -> justify MOG's current sp -> support the RI and placement -> satisfy the condition for MOG to acquire Artemis/RT in the first place.

Wildcard to that scenario is another move by Albers to amend the "conditions".