re: strong finish, u bidders all round - capman Capman
In relation to Woodside's public attitude to Mauritania...i think it is worth contemplating that the pre-emptive rights arrangement that we saw with ENI-AGIP exit being taken up by other joint venturers almost certainly also applies all the others. Therefore, if HDR considers the reduction in its stakes in any part of Mauritania as a funding mechanism, i expect that the partners in the relevant block could preempt and take it up unless it's a farm in. I wouldn't know what happens in the latter case.
Maybe that means that through fairly friendly means WPL could gain more exposure without even contemplating taking over the whole thing (HDR). In the meantime, WPL would want its own SP to reflect the value in Mauritania anyway, to give its shareholders value and to make any (unwelcome) bid for itself more rich.
Worth a thought...anyone else think this is realistic?
regards
DF
HDR
hardman resources limited
