Hot "No such thing that they only pre-empt their 9.45% and the...

Hot "No such thing that they only pre-empt their 9.45% and the remainder goes to WPL because CNE don't pre-empt. Won't work that way..."

Is this 100% certain - just doesn't make sense to me as per previous post.

Would you happen to know ofhand the differential between 50% of the cost of drilling done to date (the reason we farmed out) and the AU$580 (US$350+80) we would have to pay to own 50% of the asset?

This would represent the value of derisking the project wouldn't it?

From Aug 2013 ". FAR ... will be free carried through two exploration wells in Senegal with a total investment of approximately US$190 million" these blew out to over $200M and they then drilled 2 more for I assume a little less (bad memory sorry). plus FAR got 9M cash.

Say the JV including FAR spent circa US$430M (ignoring we had to contribute our 15% on the 3rd and 4th drills) on drilling and now need $430 to effectively now buy back up to 50%. So isn't that like selling the risk and buying the proven asset back for double/triple the price - thats gotta be worth it surely.

Just putting it out there (maybe someone already has)