I dont think Cairn have +US$1.5bn at call, thats for sure!! They are winging it one could say. Clearly arbitration is causing a buyers stand off. I also dont think FAR will develop their full 13.7% either. Again the sale process of SNE is being stalled by arbitration and rightly so. If Woodside up CAPEX by 40% and give everybody 4 weeks to get ready, then how hard is the stop date PC is talking about?? The JV need to submit 100% & if Coleman wants to meet FID date for the Senegal govt, he being operator needs to oversee and make it work. Little FAR can drag its heals as one would expect when capex has been upped so significantly.
FAR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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