FAR Options, page-15

Looks like the sell partial or all option is well and truly on the table. A partial sale to WPL or WPL take the lot? I suspect this was already discussed prior to FAR/WPL agreeing not to pursue costs for PE. I also assume FAR has decided to shop the asset around to see if they can do any better than what WPL are offering. Obviously nothing in writing yet otherwise they would need to inform the market. KAR is the only aussie oiler with cash looking for oil assets. A 1/15 script bid would price FAR at 3c and give KAR an additional AUD $150M cash. Otherwise maybe Petronas if they see merit in the Sangomar/A2 link. Taking FAR out gives them 100% of Gambia, 15% of Sangomar and any oil sharing arrangement if Sangomar does in fact link up with A2.