WPL is buying COP Senegal Inc lock, stock and barrel for a rather paltry sum. CNE does not P/E and makes positive noises in their half yearly, but refers to special circumstances. Would all of this happen because COP Houston has made a hedging deal with WPL & CNE? In such a case they would consider having complied with their JV agreement, with a deal outside Senegal. And FAR? They would think they are being screwed over and believe that such a deal is part of COP JV obligations.
I would not be surprised if COP's lawyers would have concocted such a deal in conjunction with WPL's lawyers. Unusual no. In the spirit of the JV agreement? No. Never mind that it would show a conniving JV attitude towards FAR. Would leave a bad taste since without FAR there would be no SNE. I also think the Senegalese Gvt would not like such behavior.
Lets hope Total or RDS (could even imagine BHP) comes along for the ride and gets rid of the bad smell.
ConocoPhillips backs Woodside deal, page-186
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Last
48.5¢ |
Change
-0.010(2.02%) |
Mkt cap ! $44.81M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 49.5¢ | 48.5¢ | $34.87K | 70.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 27749 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 10897 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |