I see it as a compensation to the company for taking the risk in drilling an exploration play. If it was another well into an area, and or formation that others had drilled into before, more would be know about what would be encountered and how to go forward.

For MEO its the closest an O&G company can get to having proprietary information about a new area. Six months. A chance to tie up land. Competitors won't know what's there, so trying to out bid MEO carries higher risk.