Seeing we are all taking a punt on this, I'm with you on this...

Seeing we are all taking a punt on this, I'm with you on this OOO. Can't see any sense in Farjoys comment unless the gloves are now off. $40 mill is a lot of incentive to get a lawyer working.

What I do like in the COP/WPL announcment is:

"The total sales price of the transaction, which is between the subsidiaries of ConocoPhillips and Australia’s Woodside Petroleum Ltd. (ASX: WPL), was approximately $440 million, including net customary adjustments of approximately $90 million."

If legally, the PE is still alive and we have not had an announcement that the PE is dead, the FAR we now know that there are no hidden costs in COP/WPL deal. If FAR do have a backer and PE rights then they now have a firm figure to work on and it's cheap.

As I said in my last post if FAR management have taken shareholders down this PE path without a backer, then it's would have to be one of the biggest corporate blunders ever or at least the most embarrassing. This will leave management with zero credibility, & heads should probably roll.

I could not see CN being that unprofessional so until I hear other, I think their will be an amicable deal announced on Monday benefiting FAR holders or off to the courts with the PE. If the best we do is the current 15% (which is still bloody excellent given the 100 Bill boe (approx) to FAR so holders should not panic and feed the shorters) and WPL take over to production, then time to cut costs, reduce the size of the management team by 50% and reduce cash burn over the next few years. Yeah pigs might fly too, but that would be responsible and good management. If I was Farjoy the last thing I would want is unnecessary cash burn diluting his $40 mill and would put pressure for this restructure. No more boys trips to Edinburgh. Have to wonder if the COP/WPL deal was so close to completion and FAR had no PE sugar daddy, what was the boys trip for?

Still doesn't add up that the shorter' may have got a leak and the insto's didn't. No one else was selling during this period, volume very low. Maybe COP/WPL have friends who knew they we're about to shake the tree??? No that would never happen. Hold I reckon and wait for the umpires call on this one. May need the video ref to adjudicate.

That's my roll of the dice and I it will be interesting to see what Monday brings.

Again GLTA especially the LT's.

Cheers

Plugged