re: Ann: MEO: Acquires additional 5% equity i... I think Albers will use the funds to drill Cornea again, possibly a horizontal.
Once the deal is finalised, I expect MOG will reveal their plans for Cornea which may include OXX upping their stake.
If A-1 is successful, MOG will have no trouble raising additional capital for followup wells in WA-360-P
If A-1 is a duster, I reckon MOG will walk away rather than participate in any further wells.
The 5% sale is a disappointing outcome compared to what holders signed up for in the recent RI.
The terms of the 5% sale were quite poor compared to MEO's deal with PBR, given MOG's stake was already free carried, uncapped, whereas MEO's stake was not.
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