FAR 0.00% 49.0¢ far limited

I think the prima facie case is that the JV partners could...

  1. 6,062 Posts.
    lightbulb Created with Sketch. 89
    I think the prima facie case is that the JV partners could individually pre empt the sale.
    It doesn't say anything about being able to PE on a pro rata basis.

    In the simplest terms these PE rights say either of the JV partners can match the sale price.
    But maybe you are right.
    I am just reading it as I see it.

    Could CNE, FAR & Petrosen join forces to take the stake back?
    Is this a question FAR could answer?
    Are they contemplating PE the entire 35% or just a %

    Morgans suggested in their upgrade that WPL would not be content with a mere 35%
    I agree with that assessment.
    As Serifino suggested in an earlier post, the operator makes money for 40 years on top of the oil profits.
    Win/win for WPL or whoever ends up with 50%
 
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