News: FAR FAR Says Debt Financing Not Proceeding As Expected, page-87

OG I have posted here clear evidence that, at the very least CNE didn't know the actual cost, in September.......3 months before the lease expiry.
Not only did they not know the cost they didn't know it was, somehow, 40% dearer.
What was left to last minute and IMHO was the costings coming from WPL.
CNE COO didn't know.
FAR didn't know.
Petrosen clearly didn't know or they wouldn't have had to tap WPL.
Everyone is pisssed at FAR for not having finance.
CNE don't have it.
Petrosen had to borrow from the operator......
The JV, other than WPL who has the cash, was put in an impossible position by WPL.
Vote for the extra expense or have the lease expire. No one had a choice.
I believe it is very deliberate.
FAR would have been able to manage 411 million IMO.......not 585. WPL would have known this IMO, and what better way of making sure they implode and at the same time make it look very expensive for anyone interested in buying the WI once they implode.
CNE are under great pressure also and I would go as FAR to say if oil does not recover in the next 6 months, they will struggle big time. They only have 30% of their production hedged so IMO would be losing money atm.
WPL could end up with the whole lot yet.