A couple of things. As I understand it, MEO only needs to make an irrevocable commitment to drill before 31 Dec, not to commence the actual drilling.
The second point is that the deal between Gascorp (Rankin Trend) and MOG (15% for the 120M shares) is conditional upon MEO giving that commitment to drill (page 2 of the announcement from the 29th). After thinking about this though this is almost a formality, as I said in the above post, MEO is not going to let a significant asset like 20%, 15% or even a smaller free carry percentage of Artemis and its exploration costs, default to $0.
MOG Price at posting:
26.2¢ Sentiment: Buy Disclosure: Held
