What I don't get is why ONGC didn't make a tilt at FAR instead of just SNE that they must have known WPL would PE?
The positive bit is that for WPL to avoid any newbie in the JV they have to have a tilt at FAR as I can see no reason why the Senegalese government could knock Remus back.
I can't find any reference in the PSC or JOA around qualifications of a JV partner.
I believe if Remus can show the government they have the cash to fund SNE the government will have no option but to approve the sale.
I believe under theses circumstances WPL will take a tilt at FAR otherwise they can be preempted in any sale they make.
I'm sure WPL will be pressuring the government to not approve but if Remus meet the criteria, and Senegal don't give approval, Senegal could find itself in arbitration......IMO.
What I don't get is why ONGC didn't make a tilt at FAR instead...
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Last
52.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.05M | |||
| Open | High | Low | Value | Volume |
| 52.0¢ | 52.0¢ | 52.0¢ | $30.26K | 58.21K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 791 | 52.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 53.0¢ | 10000 | 1 |
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| Last trade - 15.56pm 04/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |