FID requires...government approval of the exploitation plan, financing in place, partner approvals and most likely resolution of the arbitration matter. If you think all that’s gonna happen in September, you’re deluded. Personally, I don’t think FID will happen before the license expires in early December. And that means going cap in hand to the government for a further extension. Very worrying for FAR and CNE. Woodside would love an arbitration ‘win’ for FAR. It could allow them to hand the lot back to ConocoPhillips and walk away whole...what a mess.
SNE Project, Phase1 tenders due by early Sept, page-9
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Mkt cap ! $46.20M | |||
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