Blue sky?, page-48

Coopy,

I saw it differently.

WPL - COP. OK, we'll take it at the 430mil price tag, but need a bit of time to sort a few things out.
WPL - CNE. Don't PE us, and here's the deal........but FAR cannot know this. In any case they haven't money for the 35% so we'll just ignore them and push them over.
CNE - WPL Done.
WPL - COP Problem sorted, push ahead as done deal. Announce it as such to make it difficult for FAR

Meanwhile in the FAR camp
CN COP is selling to WPL at an incredibly low price and they didn't tell us
RN Well that's good because that's a default of the JV condition and we can PE, but don't tell them yet, cause it'll give us a head start when we drop the bomb. We're are almost there with SHELL, TOTAL.
CN What about CNE.
RN We got that @&^% as well cause they said they welcome WPL on board, on public record.
CN Good, we got them both.

Meanwhile in HC camp
$#@$^^& !
*&^*$# !

23rd August 2016
CN dropped two bombs, RISC Report and intention to PE.

WPL - COP You guys stuffed up and where did FAR get the money from. We really want this deal!
COP - WPL Well we can't stop them, CNE might
WPL- CNE Can you stop them?
CNE - WPL How can we? We have already said that we'll welcome you on board, it'll look like a collusion between us if we change our minds now.

Announcement said
"FAR looks forward to updating the market when the pre-emption timetable has been finalised."
This tells me they ve been working on it for a while.

In many of my previous posts, I said that no news is good news. why would they (FAR) let you, which would mean CNE, COP and WPL, know their strategy?

Game has begun.
There can be only 4 outcomes
1. WPL take out FAR at a high premium
2. WPL bend over for a exceptional deal
3. WPL get pushed out and replaced by another major/majors
4. FAR was bluffing

I am happy with 1.

KKW