News: UPDATE 1-ConocoPhillips hits snag in Senegal deepwater stake sale to Woodside, page-50

My back of envelope calculation.

I don't believe that WPL based their decision on 560mil but rather 330mil, which means $3.74/b
Their figure of 560mil as against 561mil from FAR's figure is just too close to be a coincidence.

From most reports you can't drill for $4/b and WPL would know that too, so $3.74 a good start.
Assuming a TO by WPL, and valuing FAR using the same rate and working backwards a bit.

After the latest RISC report, we are sitting at 640mil. 50% of that is 320mil, then there is DJ so can we add say 100mil (Just my guess, I know it's early days but remember we have 75%)
$3.74 *420 mil = $1.57 bil for 50%
They already paid 430mil for 35% So to get to the 50%,
They have to spend another ($1.57-$0.43)Bil = $1.14 Bil
$US to $AUD = 1.52Bil
$1.52bil/4.5bil shares = 0.33

Then they would get FAN, Kenya, GB all for free, but would we let them? We might if they pay a TO premium say lowly 25%
0.33*1.25 = 42c

Oh if it is a partial script, better give us a sweetener as well make it eqv 45c
Where do I sign?

WN, would like to see what you think!

KKW