Ann: SNE oil field commercial viability confirmed-FAR.AX, page-95

The reason WPL would never put a bid now is that FAR woul say a definite NO, along with the position of strength. WPL would have an idea with informal talks of what it is willing to pay compared to what FAR expects. Judging by the COP transaction they will be poles apart. The only way for FAR to lose in a hostile bid is if gets into a financially distressed state. This is the key and why it is imperative for FAR to continue on the current path. However there will come a time when FAR needs to start planning for the phase beyond the drilling and appraisal - this is where it could become vulnerable. Hence i would like any SP appreciation in the ST to be used for another CR but more importantly an intention on how or pathway to fund the step of developing this field. Otherwise the sp will tank as the market does look ahead beyond the current stage.