Ann: Quarterly Activities and Cashflow, page-64

Woodside Petroleum WPL.AX is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief Executive Peter Coleman said on Friday.

The head of Australia's top independent gas producer said, however, deals were unlikely until the third or fourth quarter of this year.

Note, WPL report under the US financial system, so 3rd and 4th quarter is in reference to Sept or Dec quarter.

At the moment, FAR has enough $ to meet its financial obligations until the end of the Sept quarter. After that, it will struggle: if its SP does not rise by then, it will not be able to raise capital and/or seek finance.

Personally, I don't think CNE or Petrosen would be interested as they don't have the finance. And I don't think other big players would be interested in circa 14%, as they could easily buy many struggling medium producers, without having to outlay huge CAPEX.

That leaves WPL as the only logical buyer.

The question is how hard will WPL drive this deal?!?