Email from Cath, page-2

First 2 Last

Share
Profile

Follow
kkw

7,511 Posts.

743

01/02/17

11:00

Post #: 22280900
Share

Originally posted by elemental09 ↑

Good morning all

I emailed Cath last night as I had a number of questions / concerns relating to FAR.
Cath was kind enough to respond. I will say up front that I am not going to copy and paste the email on to HC.
Some people might get annoyed at this, and my answer to that is – if you have any questions or concerns – take the trouble to email the company yourself. I am simply offering this summary in the hope that it helps answer some of the frequent / ongoing concerns. I have certainly tried my best to accurately capture that conversation and not take anything out of context.

Summary:
Cath advised that there are no mistakes in the quarterly report and that FAR had been issued with a pre-emptive rights notice by COP. Cath went on to say that this had never been in dispute, however, what is in dispute is the form of the notice. Not all of the information required for FAR to assess the pre-emptive right was provided and this is still the case. This was in response to my query to the below section of the quarterly (in bold). I queried whether this was a typo as I didn’t realise that a pre-emptive rights clause had actually been received. “As at the date of writing, there is no update for shareholders regarding FAR’s right to pre-empt the sale of the ConocoPhillips 35% share of the Senegal RSSD project via sale of the ConocoPhillips Senegal BV entity. Government approval for the sale has not been advised and FAR remains ready to consider its pre-emptive rights as provided for under the Joint Operating Agreement and the pre-emptive rights notice issued to partners by ConocoPhillips.”
I got the impression that Cairn did not want to pre-empt, however, Petrosen have not yet waived their right to pre-empt.
As per recent announcements I was advised that the Senegal Government are undertaking a process to evaluate the current situation and respond. I believe the transfer of assets (Conoco transferring Conoco B.V. to Woodside) is subject to the Senegal Governments approval.
In relation to DJ – Cath indicated that until FAR take up its option – FAR are not part of the Djiffere JV (which likely explains recent emails I received from Trace Atlantic).
I certainly got a very positive vibe from the email and I am now going to sit back, relax and wait for any future announcement to be made. I am going to ignore the trolls on HC and just wait for an outcome.

Anyway I hope this helps.
Ele.

Expand

Ele,

Thanks for sharing. Really in retrospect, everyone should have "ignore the trolls on HC and just wait for an outcome." including those news articles.

My confidence of a good outcome has increased significantly. "Rumour" I heard long before this is shorters will burn.

KKW

FAR Price at posting: 7.9¢ Sentiment: Hold Disclosure: Held
8 Upvote

0 Great analysis

Reply

Top Stories

ASX Market Close: How a megadam in Tibet pushed us into the red

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

FBU

Fletcher Building 'exploring options' around construction division sale

CIA

'Share long-term visions': Champion Iron rallies on mooted Nippon, Sojitz partnership

RML

Resolution Minerals appoints industry experts to fast-track US growth strategy

There are more pages in this discussion • 8 more messages in this thread...

First 2 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 40.0¢		Change 0.010(2.56%)		Mkt cap ! $36.96M

Open	High	Low	Value	Volume
39.0¢	40.0¢	38.0¢	$28.44K	72.16K

Buyers (Bids)

No.	Vol.	Price($)
2	50100	38.0¢

Sellers (Offers)

Price($)	Vol.	No.
40.0¢	12496	2

View Market Depth

No.	Vol.	Price($)
2	50100	0.380
1	150000	0.370
3	91523	0.365
2	35887	0.360
1	25000	0.355

Price($)	Vol.	No.
0.400	12496	2
0.410	33333	1
0.420	20000	1
0.430	2000	1
0.440	28831	1

Last trade - 15.31pm 22/07/2025 (20 minute delay)

FAR (ASX) Chart

Email from Cath, page-2

ASX Market Close: How a megadam in Tibet pushed us into the red

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Fletcher Building 'exploring options' around construction division sale

'Share long-term visions': Champion Iron rallies on mooted Nippon, Sojitz partnership

Resolution Minerals appoints industry experts to fast-track US growth strategy

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Email from Cath, page-2

Top Stories

ASX Market Close: How a megadam in Tibet pushed us into the red

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Fletcher Building 'exploring options' around construction division sale

'Share long-term visions': Champion Iron rallies on mooted Nippon, Sojitz partnership

Resolution Minerals appoints industry experts to fast-track US growth strategy

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News