FAR (ASX) CN do a Turnbull

Originally posted by 34232 ↑

Hi Tony

I fully appreciate that Malcy doesn't own any stock. However he runs a 'tip sheet '. He has a vested interest in his success in 'tipping o & g stocks. He has a reputation to protect.
He will get more of a nod and a wink than the rest of us. His appearance gives more than a hint of the odd 'business lunch'.
He chose to retain the 'loser' in his portfolio.
If he didn't like it the end of year was the perfect time for him to cut his loses on FAR.

Regarding the Govt not being able to say no.
Well the Govt hasn't said yes or given it's 'blessing ', either on the 35%. Let alone on a TO of FAR. Flipping the coin my take is that if they were to have approved the WPL - COP deal they would have done so long before now and PC would be crowing about it. The fact that they haven't tells me at this point that they are not going to.
Now what 'mechanism ' they are using to keep WPL in limbo I don't know but seem to me that whoever is 'pulling the strings ', and you know who I think, has WPL where they want them. What the Govt (s) want the Govt (s) will get and it doesn't seem to me that it is sprat WPL.
When they are good and ready they will spit WPL out the side.
If correct what an ignominious position for WPL to be in. Sitting there paying the bills knowing that they will lose out. They can change the name from COP Senegal BV to WPL Senegal BV but that changes nothing.
When the 'asset' is uplifted then the Govt will bless WPL Senegal BV and they can do what they like with it.
I think that WPL knows all this and will be grudgingly going along. They have other interests in Senegal and will not want to be 'offside' with the govt. They may well have even been promised a tip bit elsewhere. COP also of course going along hence indemnity. COP - WPL not going to a French court in Paris to fight, they know that they are on a hiding to nothing. Hence they are all smiling here except some through clenched teeth and publicly keeping their mouths shut. Some are smiling more than others, did you see Cath's smile, waxing lyrical regarding Senegal.
What I do realise now is that this is a much longer game than most of us here first thought. I suspect that as has been said, they will be waiting for results of current drilling, to put a few more bits in place. In the meantime I would say that the broad agreements are in place and everyone is smiling albeit some through clenched teeth.
And the biggest clue today is the shaggy dogs about face, calling FAR a buy, and saying that it is likely that it won't be around in a years time. And he does all that seemingly with shame! He is lucky he doesn't have to shave. Least he and I agree on something!
What I will give him though is that his timing is likely to tun out to be better than Malcy's or mine, albeit that he probably has more information than either of us.

Expand

Yesterday felt like the final shakeout to me (very wishful thinking).
Bit of positive news around the place and a bit of buying support coming in.
Could be a precursor to a lot of things.
T/O would be my preferred option.
CR could be just as likely.
Or an announcement that the PE is resolved successfully perhaps.
We must be getting awfully close to some sort of conclusion.
This is coming up 8 months.

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(20min delay)
Last 48.5¢		Change -0.010(2.02%)		Mkt cap ! $44.81M

Open	High	Low	Value	Volume
49.0¢	49.8¢	48.5¢	$170.0K	347.3K

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