Hi Phill the only thing I would add is that does it matter if...

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Davy Boy

16,700 Posts.

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19/01/17

21:45

Post #: 22013918
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Originally posted by PhillW ↑

Kimbo,

Logically speaking FAR had a right to PE which is not in dispute.

1. So logically, as long as FAR disputed the PE documentation in the 30 day PE window then the dispute can only be over whether the information in the PE documentation provided all the relevant information required to PE.

2. Now if FAR failed to forward their objection to COP prior to the 30 day expiry period then COP has every right to tell FAR, sorry but you missed the deadline because PE is 30 days.

Now I have not seen the PE documentation but it would be illogical to believe that COP did not forward PE documentation which should have either;
(a) - Stated a specific expiry date for the 30 day PE period, or
(b) - Stated that the 30 days PE period commences on the date the documentation was signed for via registered mail.

Now if you believe point one above has transpired then the odds of resetting PE would have to be high, but if the circumstances in point two has transpired then the road to PE may be a lot more difficult and I for one would want to know how FAR management made such a blatant error!

Now on the issue that FAR continues to communicate "That they reserve their right to PE' which could mean that they are only reserving their right and have no backer I find hard to believe when you take into consideration all of the cryptic messages that FAR has been tweeting in the early days of the COP/WPL deal. I think the reserve their right statement may be there on the off chance that the sale valuation for the 35% was actually significantly higher than the reported sale value which would mean the debt in the BV lowered the reported sale value of the 35% to US$440M.

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Hi Phill the only thing I would add is that does it matter if the 30 day PE period lapses if the paperwork is not correct? I can't see how the PE period would actually have any bearing on whether COP have abyded by the JOA.... if its wrong then its wrong regardless of the time frame.
FAR's stance would support my theory they claim PE has not begun.DB

FAR Price at posting: 7.5¢ Sentiment: Buy Disclosure: Held
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