Ann: Investor Presentation - March 2019, page-46

To be clear, my thoughts are purely speculative and so should be ignored on all fronts.  Nonetheless,

- Good point re Farjoy.  I'm assuming they will participate in any further capital raisings and so maintain the 10%.
- re before or after ...  hmmmm ... my sense is that the visible value attributed to the SNE project will continue rapidly increase the closer they get to FID and then possibly a little slower as they get closer to first oil.  I think the only real ingredient that FAR needs is cash to gather that value increment ... So, if you were a predator and held the view that the ingredient necessary to harness that value increment was otherwise accessible, you would surely think about taking some steps.  In a roundabout way, FAR is more vulnerable when it does not have enough cash to progress projects compared to post a capital raise when it does have enough cash...

Just a thought.  

I've also seen scenarios where a proposed floating of a business is used as a ruse to lure prospective buyers to achieve a trade sale of the business... 

Again, just a thought.  

Have a great day!