If e.g. CNNOC are the backer and FAR the vehicle for them to get into this play, what would the carrot be for this?
If oil has increased by ~$3/barrel for 2C (rather than $20+ Brent) and resource size has increased by (announcement pending?) 200M+ x 35%, would FAR be able to negotiate e.g 40/60 split of this total increase for getting CNNOC a seat at the table (e.g. with them responsible for any legal costs etc)?
Just trying to understand how this conceivably would work and size of the pie for FAR?
Understand this could equally be increased % JV share as some have alluded to, but would this be sort of principle for valuation behind it?
Or am I completely off track?
Ann: Response to Woodside Senegal Announcement, page-20
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