Post PE (win or lose) FAR represent a sitting duck to a cashed up major. Couple that with Cairns 20% on offer and WPL’s tenure as top dog could be under threat. Yes WPL have offered Senegal favourable finance but that doesn’t mean they will take it, Petrosen may yet elect to offload a small percentage in exchange for a free carry, chew on that one.
Also if FAR’s right to PE is reinstated the theory “FAR are the vehicle” will be alive and well with FAR well and truely in the drivers seat.
Wonder if FAR are still considered frivolous?
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