dilemma, page-11

Well it is quite obvious that as it stands, we will need to make an informed gamble on a) the results of the farm-in and b) the expected negative SP movement (if at all) in the event of the farm-in failing, when considering whether to take up the RI.

A question that I want to raise generally, and if anyone can answer them, it would be appreciated.

If MEO does not succeed, for whatever the reason may be, in making a binding agreement to drill and subsequently MOG (all conditions being met) acquires an additional 35% in Artemis, will MEO a) be at liberty and b) be likely to divulge details of the offers that were made with respect to the farm-in deal from ALL parties?

By reckoning, MEO may have had a tough-er time than what MOG or CUE may in securing a farm-in partner, due to the fact that they are operating on a deadline. Should the deal fall over for MEO, my understanding is that MOG/CUE will have 12 months to secure a partner (before the permit expires). Given that MEO will have already done the ground work, and that some time will have gone by since the initial round of offers (remembering we are still only fresh 'out' of the GFC, thus some of the majors may now be loosening their belts a little more than they were a few months ago), offers a second time around may be a little different. This may also speed up the process for MOG/CUE in securing a deal.

Interested in what people think about the ability for MOG/CUE to find a partner (assuming they won't fund it themselves, which is a possibility) compared to MEO doing so under a deadline.

Apologies if this is somewhat jumbled, a bit of a brain dump.

Cheers