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.
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Last
51.5¢ |
Change
0.025(5.10%) |
Mkt cap ! $47.59M |
Open | High | Low | Value | Volume |
48.0¢ | 52.5¢ | 48.0¢ | $164.4K | 328.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 28930 | 48.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.5¢ | 9744 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 28930 | 0.480 |
2 | 70000 | 0.475 |
3 | 84150 | 0.470 |
3 | 160000 | 0.465 |
1 | 30000 | 0.460 |
Price($) | Vol. | No. |
---|---|---|
0.530 | 10000 | 1 |
0.540 | 22471 | 1 |
0.550 | 2285 | 1 |
0.590 | 5000 | 1 |
0.600 | 953 | 1 |
Last trade - 15.55pm 27/06/2024 (20 minute delay) ? |
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