Woodside Petroleum eyes new hub with $US8b Senegal oil project, page-4

Good morning all,

"but Cairn signalled last week it was happy to see Woodside take the stake, while 15 per cent partner FAR Ltd, an ASX-listed junior explorer, would struggle to match the price which is bigger than its total market value."

With the few items that came to light recently, like "but Cairn signalled last week it was happy to see Woodside take the stake", it is quite obvious the there is some discussion between WPL and CNE unbeknownst to FAR long before the decision to buy, the ransom of which we do not know as yet.

I would say that WPL once they got CNE on side thought that it's in the bag, as "FAR Ltd, an ASX-listed junior explorer, would struggle to match the price which is bigger than its total market value." Their attitude would have been "F them" they can't buy the lot (35%)

I think WPL has underestimated FAR. There is now only one option left to save face. I am certain that's what happening in the back ground. Which really leaves only one uncertainty; can FAR PE or not with the "arrangement" of the sale?

KKW