What bargaining power do FAR have for these new blocks? It's not like they can outbid anyone and I'm sure they won't be the only ones looking to gain some acreage around here.
I guess the best FAR have to offer is their experience/knowledge of the area which CNE and COP can also lay claim too. They not going to be picked for their balance sheet. I think it will be a joint farm in with one or both of the other JV partners in possibly a couple of leases or the only way I can see that they could be considered by AP as a partner is if they are looking for less percentage of the leases compared to CNE COP and god knows how many other potential oilers. What's the thoughts on how these things may play out?
Capital Raising, page-36
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