AFR Articles, page-92

Hi Rolla

I took that to mean we own the 35% and it has value. Obviously they want to hold on to it as they purchased the asset in good faith from COP at least they will claim they did but most on here believe differently.

So WPL as the owner of the asset are entitled to its market value if under the JV it must be handed back to COP.

If the above happens then FAR can acquire the asset at the price WPL paid plus drilling cost rather than market value from COP.

PC said previously it was up to COP to deliver to them the asset and COP did that by seller the company owning the asset.

So COP is on the hook more so than WPL because COP and WPL will be in court over the loss in valve to WPL if this goes the wrong way for WPL.

WPL may be pushed out of the JV but it has rights in relation to the full value of its asset and will be claiming its loss.

This whole saga could take ten years to play out completely, not the FAR part but the bit between COP and WPL.

There could be a deal after arbitration but that will depend on how much loose change COP has at the time.

If we ignore possible delays to the project and capital calls by WPL once they are operators this could be one sweet ride for FAR.

The more they screen the more it show they care, eg COP delaying and PC comments.

Zip OFL