Bullying continues !!!, page-107

If CNE had the money, they’d go with Woody and sanction the project. Cash calls would bankrupt FAR. Problem is Cairn haven’t got the money to pay for 40% of more than 4 billion. They’ve been fairly quiet and I suspect that they’ve just been getting on with the sale process run by Jeffries Bank. Yes...the one FAR pulled out of. These sales can take a long time and I’d be amazed if they can get a sale done before the license expires. What I’m expecting is for Woody to submit the development plan before the license expires. Followed by rapid approval by Senegal. That will allow Cairn to be confident about selling. Woody and CNE will do a deal with Petrosen and all three will sanction the project. fAR will be left on the sidelines hoping and praying that PE will save em. It won’t. After that who knows. I can see em losing 10% for a carry on the remaining 5%.