Zip, do you understand how JVs and Cash calls work?
WPL and CNE have budgeted for a USD300m program. What is FARs share?
Now, it may be, that the cash call on FAR was 'only;' for the 2 firm wells... being 16.7% of USD240m. The balance to come when the optional wells are confirmed.
Either way, each figure exceeds FARs reported cash position by a magnitude - a point not lost on the market....
However, the quarterly may well show cash as 'held by the company AND in JV a/c's.'
Comprende?
Hence hat going round now IMO.
DYOR
Quarterly out soon, page-3
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