An oil and gas exploration company's primary assets are the licences that it holds and which give it exclusive rights to explore and produce. Until such time as Woodside can show that it has such a title from the Senegal Govt it cannot claim to have an asset that is not contingent. Until the Senegal Govt ratifies changes to the title to reflect Woodside rather that Conoco as title holder, Woodside has nothing. The pressure is now on Woodside to offer a deal to FAR.
It is a pity Matthew Stephens failed to ask this question about clear title when he wrote this article.
Glassford
Woodside's showdown in Senegal, page-2
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Mkt cap ! $42.04M | |||
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