Really mate? I would have thought that by MEO being the operator of the permit that they will be doing the negotiating and hence have put up the cash for seismics etc. and done all the leg work in the data room, applications etc.
MEO has done all the negotiating to date and MOG/CUE get their free carry by sitting in the back seat while the Farminee drives. No back seat drivers please or they may be promptly told to get out and walk.
As far as your argument goes that if Artemis is a duster all companies will sink, i agree, although i think MEO and CUE would eventually come good again on the back of other projects. Interested to hear what you think the future may hold for MOG though as i think it would be "good night Irene".
It really depends on what agreement MEO has made with the farmin partner as i feel that MEO are in the prime position to have some of their other projects closely looked by the new entry, international O&G major as they may want to make their presence felt in Australia. That is the reason MEO for mine as i see less LT risk and higher LT value but i definatly respect your higher ST risk/reward approach.
MOG Price at posting:
13.5¢ Sentiment: ST Buy Disclosure: Held
