2 weeks from Today..., page-197

"Its clear why FAR has held their ground, but I think its also significant that Cairn hasn't sold any portion of SNE yet to WPL or any other bidder to date. "

IMO I doubt PE would be a hindrance for CNE or FAR if they wish to sell a stake in SNE , any deal would take all issues into consideration and terms could be agreed upon and announced anytime but would likely only be consumated on confirmation of FID....the process is happening as we speak and will only proceed of the price is right , PE would not have any effect on that price, especially for CNE as they are not part of that process anyway...

It seems FAR are running their own program regarding any sell down but with such a small stake it would probably only happen in conjunction with CNE , I'm sure they will be working together to get the best price...

Personally I doubt FAR has any intention to sell anything if they can get away with it as the real value lies at production, they have made it clear they would ideally prefer more of SNE not less but they have funding challenges so as the saying goes, if an offer too good to refuse comes along then anything is possible...

The problem FAR or any small oiler with good assets and no income have is the assets can only have a real value placed on them if sold or if produced from, in the meantime the Market will put whatever value it can get away with..a sell down by CNE or CNE/FAR will finally establish a current value for our Oil and I look forward to that if it happens...at the moment our MC reflects US$ 3.45 bbl, you can be sure they won't be selling appraised oil for that...

Cheers Whisky