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%
I think the prima facie case is that the JV partners could...
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50.5¢ |
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Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
| 50.5¢ | 50.5¢ | 50.5¢ | $14.48K | 28.69K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5356 | 50.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 59999 | 2 |
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