re: Ann: MEO: MEO Executes binding farm-in ag... Gav,
CUE will simply be reserving it's decision until after any discovery is made, the nature of the gas is known, and the size of the discovery assessed.
When these things are known (if there is even a discovery) CUE will be in a much better position to decide what is the prudent thing to do with it's gas. It would imho be highly likely that it would then participate with it's coventurers.
Can't see why if I were in CUE's position ( and with them knowing how keen PB were) I'd have agreed to be constrained in advance of any discovery. You just don't cede your future flexibility for free, needlessly, do you?
EL
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