Utter nonsense. Cairn, FAR and Petrosen participated in protracted negotiations with banks and contractors for a lease. It became obvious to all participants that the negotiations were going nowhere. Why? Coz contractors and their usual financiers were not prepared to build a boat for a JV 2/3 of which had no money. Or rather the cost of risk was so high, they demanded massive lease rates and more. In the end Woody had no choice but to go the purchase route.
Akso, Far and Cairn were in a joint farm out process. Far pulled out. Now they are gonna sell or be forced to sell for much less than what Cairn got. Who’s gonna take the blame for that?
Ann: Response to ASX Query Letter, page-85
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46.5¢ |
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Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
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