Hi STH
You are giving the contents of my post too much air. Please. I know you have nailed your colours on the post and that's fine with me.
My comment re ICA "are onto any delay tactics by COP" should have been interpreted as follows:
The whole debacle of PE was lodged with the ICA because COP did not want to come to the table. Their attitude has been extended to the ICA to date. Of course the ICA is aware of COP's tactics, what ever they may be. Don't read too much into it.
Was FAR aware of the higher offers for the COP asset before the sale to WPL. Imo yes. At that point in time the relationship between all parties was probably a bit more friendly and the JV partners were all aware of COP wanting to sell. Nothing wrong with this. Nobody is suggesting that COP set out to do what has now transpired in to this case. I honestly think they looked for somebody to suit their schedule of disposal & WPL became it. As pointed out previously the sale could have been compiled by a lower Executive and presented to the board at a time of no return. Unfortunately, after this event it got a bit out of hand and COP defends it in a way you expect a large company to do.
If it turns out that FAR can PE, I can only suggest buy some more shares. It would be a one off.
I was hoping you engage with some comment re the ministerial arrete which you have so often used as a sign that the Government has approved the sale. Even though WPL made an announcement about it, nobody seems to have seen anything from the Government. A comment was made by an innocent bystander on how WPL can raise $ 2.5 bil in capital without informing the market that there maybe a risk of loosing the Senegal deal. Hmm.
To everybody who was not at the Sydney Investor Presentation, CN gave a run down on the PE case because she was getting a bit sick of having the questions relating to the PE issue only. She ended the run down by saying that's all I know. The questions which followed by the shareholders were almost all geological/ technical and I am sure she appreciated the quality of her ordinary shareholders.
Have a nice day.
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