Not having a go at you mate, just do not understand WPL logic?
They know that Senegal ( sne ) is more than likely an oil field with probable reserves circa 2 - 3Bill barrels not accounting for all the other fruit that goes with it, GB, Diff, Kenya, soleil, fan etc. Why go low ball for Coco and allow another competitor a chance to snare it away? Pure dumb!
If it was me at the helm of WPL and I had a pretty decent war chest ( that is known as you made a play for Oilsearch for $14 bill I believe ), I would of taken out Cairn and Far and then had the lollies all to myself. How much to take out Cairn & FAR? $3bill probably + production + drilling = $6bill possibly, hell lets make it $10 bill to round it up. ( I am no oiler )
In the next 18 months poo probably $70 per barrel x probably 4 bboe = $280 bill over the life of field
No brainer? Atm you probably will end up with TOTAL nothing...
Why doesnt WPL T/O FAR?, page-20
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