Hi ZZ, great post. Your scenario sounds plausible. Hot has just...

Hi ZZ, great post.

Your scenario sounds plausible. Hot has just reminded us of the Senegal Govt's stated desire to bring Total into the venture. I agree with him that this would not be possible if the Woodside deal is approved since WPL would also acquire the rights of a JV partner to PE any other sale - eg if Cairn were to sell down/out. So it's now or potentially never for the Govt to bring Total in.

CN famously described the Djiffere seismic ss the best million bucks ever spent and we might soon find out why: If, as seems likely, Djiffere is now in the melting pot, then FAR's 75% is a huge bargaining chip (especially as they would by now have at least initial seismic results to better inform the discussion).

Yours is not the only jungle drum beating, ZZ. A couple of the more considered posters here also claim to have information suggesting FAR shorts are about to experience a terrible reckoning. When that might be is moot, but surely even an in-principle settlement, if in place now, must await connectivity results for final pricing. If I were Total, I would not consider paying drug money prices until I knew connectivity existed. Theoretically then, we might yet be four months away from a resolution, although mitigating against that possibility is the fact that FAR has not yet pulled the trigger on another CR. Given the drill bit is now spinning on the penultimate funded well, this suggests FAR is confident of a near-term resolution that will deliver it the capital required to continue into the next appraisal phase.

Or the capital to pay us all out and exit stage left!

OOO