If CNOOC or another Chinese (or another Russian) company buy FAR's stake, and Lukoil goes ahead, that will be an extremely unpalatable arrangement for WPL as operator without their 39% +. The value of their stake would be reduced, and it would reduce their strategic options in that region, such as farming into adjacent licences, and locating infrastructure to suit WPL plans.
If the partners chose to interfere, they could use WPL's inability to tie things together and time projects to benefit themselves if they have a competing strategic objective in the region, or to reduce the risk weighted economics of adjacent farm ins and other projects to WPL. If WPL don't want the Cairn stake, they need to buy FAR out (or option) pronto. I hope FAR management are keeping their cards held tightly to their chest.
All IMO
NB - hold WPL
Woody not happy, page-37
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Last
48.5¢ |
Change
-0.005(1.02%) |
Mkt cap ! $44.81M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 49.0¢ | 48.5¢ | $30.20K | 61.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18945 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 6324 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FAR (ASX) Chart |