New report (!): FAR narcolepsy, page-14

"It would seem there have been discussion between the parties so that there is no disruption on the project and that's why we may get FID prior to arbitration decision. Seems to fit what the parties have been saying for some time."

Yes that certainly does fit with what's been suggested lately, Declaratory relief itself doesn't award compensation, but if as suggested by Bullant recently that the Arbitration has two parts, and the panel do find we have the right to PE then it offers scope for COP/WPL to compensate before it moves to a second step, which as Bullant suggested could prove troublesome for COP/WPL and the JV in general...if we do get compensation it will be interesting to find what form it takes...

We have known for sometime that equity was likely to be part of the funding package.

"‒ A placement of strategic equity, which would reduce or remove the residual public market equity funding requirement."

Ideally it would remove it not reduce it.. and if compensation does came our way may not be needed at all, I certainly wouldn't bet on that..

In the end if FAR wishes to reach income with the full WI of 13.7%, then it will do what is needed..

If we assume another 1Bil shares issued and use BP's 20c valuation then it would imply a valuation of $A1.4 Bil or A$16bbl ( $US$970 or US 11 Bbl at the current exchange rate) for FAR's 88Mmbbls of reserves and resources (RISK)at production and as a going concern with long-term income....I've seen considerably more offered per Bbl going into production, the offer for KOSMOS share of its Ghana assets springs to mind...

Cheers Whisky