Share Price Catalysts, page-1577

interesting challenges selling parts of a sleeping elephant...little old FARs part too

"...But the strong oil prices contributed to Woodside having to ditch a plan to sell a stake in its $US4.6 billion Sangomar oil project off the coast of Senegal which is due to come online next year after lengthy discussions with potential buyers.
“When we’ve got oil that’s going to be coming to market in the very near term, our expectation of what fair value is, is quite attractive, and in a high price environment, sometimes it’s hard for buyers and sellers to come home to alignment on what price is appropriate,”
“We’ve had extensive discussions with a number of potential partners, and haven’t been able to come to an agreement with the right partner at the right price.”
Analysts said they were not surprised that no deal had eventuated on Sangomar, with Jarden’s Nik Burns saying that a potential sell-down once production starts up in about one year’s time “may yield a better price outcome” for Woodside.

Credit Suisse’s Saul Kavonic described the outcome as a clear signal of a buyer’s market for greenfield oil in places like West Africa but added that Woodside “is not under any pressure to sell at discounts so can hold on to it”.
Woodside owns 82 per cent of the 231 million barrel oil field, which is expected to produce up to 100,000 barrels a day...."