FAR brings in arbitral big guns against Woodside, page-39

We currently own 15%

Conoco/Woodside have 35%

Petrosen 'could' potentially PE 10% of the 35% (they have not yet declined their right to PE).

In the current AGM Video Cath states that the CNOOC AMI (which appears to include the current blocks / SNE) allow for CNOOC to take a 70% interest and FAR a 30% interest in any blocks they're offered.

So... 30% of 25 (25% if we win PE) = 7.5%
Therefore our holding would increase from 15% to 22.5% and CNOOC would take 70% of 25% which is 17.5%

Petrosen would have 20% and CAIRN 40%

Alternatively - if Petrosen do not PE - 30% of 35% = 10.5% + 15% = FAR having a total of 25.5% and 70% of 35% - CNOOC would have a total of 24.5%

Thoughts ?

Ele.