Woodside as operator !!!, page-51

Malcolm.
This topic has been discussed so many times and everyone has an opinion.
I can only look at this from a common sense approach as I have never really read anything about an outside company who has nothing to do with a J/V, say in this case CNOOC, supplying the cash for FAR to buy 35% and in return say keep 30% and sell FAR 5% and therefore enter the J/V by the back door.
This line of thinking seems to be the norm on here though.
To me that transaction would be unethical and not in the spirit of the JOA.

If FAR happen to get another PE chance from arbitration then IMO they will need to raise the money themselves from normal channels.
The reason I debunk the herd mentality thinking of the above is every J/V partner would have the opportunity to do exactly the same as what the herd reckon what FAR will do.
Cairn or Petrosen IMO would not sit back and watch FAR make double the purchase price on the original deal.
Its always been ludicrous to even think that.
FAR management have never put it out there that this is their strategy as far as I know.
This is a HC fantasy outcome.
As if say CNOOC would supply the money to FAR to buy the 35%.
The cheer squad on here are telling everyone that FAR can make double the original sale price.
How pray tell would they do that?

FAR need someone to buy it for them and anyone who believes FAR can pay for it themselves are dreaming.
No company is going to do that.
The herd believe that somehow FAR will get someone to pay for the asset, then the herd say we can on sell 30% at double the original cost, keep 5% and get a free carry to production.
Fantasy land stuff IMO yet this is the train of thought most on here adhere to.

Common sense IMO is totally out the window on these threads.