ConocoPhillips backs Woodside deal, page-136

I am guessing that FAR have had a difficult position.
For PE you have to bid for the full 35%, so FAR needed to KNOW if CNE were going to PE for all or their proportion or not at all. For FAR taking their proportion would not be sufficent to interest a major. So having been advised that CNE are not seeking to PE, FAR know they have to pitch for the 35%, only then do they a stake sufficient to engage a Major that knows how to develop this discovery.
For me I was happy to partner with WPL - I believe they have the skill set and size to bring the discovery yo production and sooner than previously indicated, and with a declared interest in the region.
If FAR don't have a capable major lined up then they shouldn't be delaying the sale to WPL. If they do then I expect FAR will benefit if a major were to finance the PE then pay FAR the difference between the US$2.20 that WPL are paying and the maybe US$3+ that is closer to fair value to FAR we could be in for a nice win.
Time will tell.