It is not our intent to say that CUE should just full into line....

It is not our intent to say that CUE should just full into line. Not at all.

The point that we are making is that Petrochina could keep knocking back deals until it gets what it wants.
That would mean share prices way south of where they are now.
And who will swoop in to save the day with a rubbish deal.
Petrochina.
You are seeing this happen with many shares now.

Yes it will get drilled this year.
I'm sure MOE's team is very good but what if they miss
Look at KAR.
They keep missing the sweet spot. Can we keep drilling one hole after another? Where is that money going to come from.
And if we hit, where's the money going to come from for the platform.

Wouldn't it be better to have the top guns of O&G do it.
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Background
The preferred farminee was selected on the basis of the tangible benefits it brings to the WA-360-P Join Venture, including:
- An extremely well resourced global energy company who is a recognized technology leader
- Independence from existing and planned LNG projects, allowing the most economically attractive development option to be pursued in the event of exploration success
- The rights conferred upon all parties to participate in a stand-alone LNG project at the same participating interest as its upstream.

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Shareholders.Why it could be CUE not signing.
From sheepdog2.

As I said I'll explain later, Cue's major holders are Todd Petroleum 27%, (Kiwi Co.) UOB Kay Hian Private, which I beleive is part of Singapore Petroleum, (which Petro China holds 45.5 % interest in, who in turn has CNPC as a controlling major holder) and Octanex, 6.3 % (Who is 70 + % ALBERS entities including Doravale.) Now MEO did say it was complex, (I would prefer WEB)
No views formed here RIO Executive's current case explains all, starting next Monday.
See Cue's March 2010 Presentation which is available on there web page.
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You do have the right to sell the gas to anyone. That means the three of us has not get it out of the ground.
No farmee is going to do that deal.
"I'll pay to get it out of the ground and you can sell it to who ever."
Woodsides not going to do that deal, most if not all would not. They want it for the trains.

My intent is not to bag CUE at all.
My only point is that petrochina does not give two dams about you or your shares.