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Ann: Lukoil Proposal Not Proceeding, page-54

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mad hare

2,367 Posts.

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05/04/21

10:21

Post #: 52249981
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Originally posted by zacma: ↑

it is not just a matter of blaming WPL. But even you would have to admit that WPL was pretty much aware that FAR could not finance the expanded Budget. I suspect in any time frame. Too big a number to swallow for any lender.
I know everybody here claims FAR pissed of WPL because of PE. Maybe they did, but I am quite satisfied that WPL never had a benevolent attitude towards FAR. Business or not, I think the Government of Senegal was a bit of a turn coat after all that FAR had done for them. In all these years when nobody was interested in Senegal, FAR persevered and succeeded. When it suited Senegal, they dropped FAR. This, on top of all the other calamities outside FAR's control, created a death spiral for FAR. It's easy to say FAR should have managed their risk profile better, sovereign risk blah blah. But I don't think a Junior Oiler has a lot of leverage. That's why they are a high risk investment. And FAR never described it any different. Contrary to our Australian Government which claim every cock up being part of the national Security and Interest, FAR has no such power.
We are were are. But the party is not over until the fat lady sings.
Hope you all had a happy Easter.

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Zack a are you replying to me!

FAR Price at posting: 1.1¢ Sentiment: None Disclosure: Held
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Ann: Lukoil Proposal Not Proceeding, page-54

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