Phillip's PE squared conundrum, page-21

You guys are over-complicating things.
FAR has neither the track record, staff or cash to run this project.
What has FAR struggled with to date? Cash, with dilutive equity issues offsetting good drill results.
COP would have sent out feelers to all the potential buyers before selling to WPL. So its stake is not about to ramp up in value on some new complex deal, where someone is now willing to pay a lot more than their prior bid. But perhaps there's some remorse they didn't bid a bit higher, or now with some additional time to consider they are willing to pay a bit more.
So what's the solution for FAR and its shareholders?
FAR says to potential interested parties, you can take COP's stake, and all our West Africa rights, but leave us with 9%, and fund us through to commerciality.
9% x US$10 in NPV per barrel, on 800m barrels, would be US$720m, or A$950m. We almost triple our money in five years, on no dilution. That's great by me.
That I suspect is the type of solution being proposed. And PE could be involved in funding it.