WPL purchased $35% of SNE for $450 mil and that year POO averaged approx $40pb. That valued FAR’s share at $150mil. But since then we have paid millions for appraisal, the asset base has grown, we have substantial cash reserves and we are now allot closer to first oil.
Based on what WPL considered was fair value for COP’s 35% WPL’s equivalent TO price for FAR should be at least $400 mil.or approx 3 x the present market capital.
SP 0.016c x 3 = 0.048c / share bottom line.
AIMHO
Ann: Annual Report to shareholders, page-164
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