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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49.0¢ |
Change
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Mkt cap ! $45.28M |
Open | High | Low | Value | Volume |
49.0¢ | 49.0¢ | 49.0¢ | $10.77K | 21.98K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 14178 | 49.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.0¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 14178 | 0.490 |
2 | 30000 | 0.485 |
4 | 87930 | 0.480 |
2 | 70000 | 0.475 |
2 | 78150 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 10000 | 1 |
0.510 | 129688 | 3 |
0.515 | 2239 | 1 |
0.520 | 79910 | 2 |
0.525 | 30000 | 1 |
Last trade - 12.19pm 25/07/2024 (20 minute delay) ? |
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