Given CUE appear to have stymied the farm-in for their own as...

Given CUE appear to have stymied the farm-in for their own as yet unknown reasons while MOG have signed, how do things appear on the face of it for Moggies?

Option 1) Farm-in continues with 85% offered between MOG and MEO with CUE cut out for LNG plant aspect (personally would not want to be owning shares in CUE if this happens if on the stock for Artemis as a whole).

Option 2) Farm-in walks, drilling commences via MEO's commitment as is. No change.

I guess it comes down to how much added value does the farm-in bring to the project. It appears quite a lot given media, discussion and substantial sp movements surrounding this particular aspect..

For us, we're fine, though a substantial JV partner adds intrinsic value to the project, not just on paper. I am surprised at CUE's management to not take advantage of the prestige associated with a large multinational farm-in given their on the hunt for another in their Catarina play, walking from the best of the best available farminee sends a signal to potential suitors of their own projects that they may be difficult to deal with objectively (I understand 'acting in shareholders interests' though that should include disclosure on a deal like this and in some ways may have added credibility added by association). However this is their right as their own entity. Market and partners down the track will draw their own conclusions.

At the end of the day we're business as usual and I believe with MEO's recent update we'll be drilling this year regardless (or with a MEO\MOG\PF combo on their own deal).

Personally an 85% project I would have thought would already have been discussed as an option, although not necessarily to the farminees liking it surely shouldn't be a deal breaker on such a high valued piece of real estate.

Good luck to all Moggies. :)