*FAR Price Target Cut 40% to A$0.06/Share by Morgan Stanley, page-267

I’ve done the sums for you before. Let’s now consider low side spend to first oil before of the wells are drilled. Say $4bill. 15% of that is $600mil. If and it’s a big if Petrosen boosts its stake to 18% you can knock $50mill off. More likely is delay. Bid validity problems. Higher Woody costs. Higher costs for the kit. License problems like the government extracting more money in exchange for extending the license again. And more. It’s a mess. And anybody who says it ain’t is naive in the extreme. In fact the more I think about possible outcomes, the bigger the mess seems. Imagine trying to sell all this to potential lenders...they’ll want big returns. Very big returns. So not surprising to see the sp touching all time lows.