re: Ann: MEO: MEO Executes binding farm-in ag... Sorry to butt...

re: Ann: MEO: MEO Executes binding farm-in ag... Sorry to butt in again guys, but after reading the MOG announcement with more time it seems to answer my question.

I also posted this on the MEO forum, but would be interested in the response here, as we were supposed to be in this together, but it looks like you guys might be going your own way.

Reading todays MOG release, it clearly states that they have entered an agreement with PBR and MEO for processing via a LNG development. So what happens to CUE's 15% of the gas? Here's the last paragraph again;

"During the course of the negotiations between Petrobras and MEO, Petrobras sought agreements from all participants in the WA-360-P joint venture. These agreements relate to a collective understanding that a discovery at Artemis, if of sufficient size, would suggest LNG as the preferred development option.

(Key sentence here;)

Moby is pleased to advise that it has entered into an agreement with Petrobras and MEO confirming that an integrated LNG development is a permitted development scenario under the Joint Venture Operating Agreement and Moby has also agreed to commit its share of any gas in WA-360-P to such a development, if an LNG Project is confirmed by the Joint Venture.

Moby has also agreed to various relatively minor amendments to the Joint Operating Agreement between the parties, as were proposed by Petrobras"

Have CUE cut off their nose here, especially if Caterina is a duster?