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WhiteNoise

6,650 Posts.

19/07/16

15:32

Post #: 18308285
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Originally posted by 34232 ↑

Not speaking for CNE but there are other reasons that FAR does nothing and it is not because SNE is a dud.

What is in the agreement is in the agreement and I'm sure that FAR is being coy.

However unless their has been a serious lapse it only makes sense the the clock starts on the pre emptive rights when CNE and FAR have copies of the WPL COP agreement in full, fine print and all.
Anything else would not make sense.

The public announcement timing is of no consequence.
It could be that the clock started ticking two months ago or has yet to start.
Taking it at face value that FAR was blindsided with WPL's announcement, then one has to presume that the clock has only just started.
FAR don't seem to want to be open about the window 30, 60, 90, days etc.
Is this sensitive information that should be reasonably withheld??

The share market action sure doesn't indicate that there is anything going on.
At least not yet.

Expand

I would expect some news from FAR by the end of this week.

Might be a simple announcement outlining when the RISC report will be ready, status of new 3D seismic depth mapping which they need for the RISC report.

Again due to this silly Tight Hole Policy we have FAR trading post 4 fantastic wells at sub 8.5 cents.

If Cath N and Simon T had even given us more than almost nothing post the SNE 4 results we could have had FAR trading already round 20 cents.

If that was the case with a market cap of say AUD 800 to 900 million it would have been easier to raise the funds to pre-emptive WPL.

FAR Price at posting: 8.2¢ Sentiment: Buy Disclosure: Held
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