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Davy Boy

16,649 Posts.

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25/10/16

12:54

Post #: 20101778
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Originally posted by Davy Boy ↑

Szaba, what we do know is that COP and WPL colluded to do the deal in a certain way so that it circumvented PE. WPL have said as much even though they had subject to PE in their release. Its clear they thought that by buying subsidiary they were avoiding PE.
I'm not sure what happened but COP did an about face because I find it impossible to believe that this avoidance of PE would not have been discussed between COP and WPL. When COP told FAR that they did have preemptive rights..... this came as a surprise to WPL because they said that COP have chosen a different path and its now up to them to supply the asset.
IMO the government stepped in and asked COP for all the detail around the deal and rather than tell the government that the deal was framed in a way to avoid preemption, effectively telling the government via Petrosen we are pulling a swifty, they decided to say Oh yes you had PE but that period is over now!
The government IMO are the reason COP changed direction..... COP could hardly tell the Government to get stuffed which I am sure both COP and WPL will have told FAR to! AIMO DB

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It took me a while but I found the article I was referring to. DB

FAR Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
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Last 50.5¢		Change 0.000(0.00%)		Mkt cap ! $46.66M

Open	High	Low	Value	Volume
50.5¢	50.5¢	50.5¢	$2.525K	5K

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No.	Vol.	Price($)
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No.	Vol.	Price($)
1	13568	0.505
3	47796	0.500
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0.515	8560	2
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0.540	451	1
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Senegal wants this sorted ASAP, page-36

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