Look the problem is COP is they are being run by idiots...

Look the problem is COP is they are being run by idiots accountants.

They sell subject to PE to WPL 330 million barrels for USD 350 million plus USD 80 million for post closure date (Jan 2016) drilling cost.

For the idiots at COP they have SNE etal on books for USD 250 million, so that a huge profit and they don't care about what happened since Jan 2016 (heads buried in the sand and I would sack them all).

WPL plays a smoke screen and say they brought 35% of 560 million barrels for USD 430 million and that 35% ie 196 million barrels is a FAR derived number (but FAR don't have the expertise to know this, according to WPL PC lol).

But in reality the JV has had a major success post Jan 2016 with drilling Bel 1 and SNE 4.

Then new RISC numbers are 2c 641 million barrels and no sign of any limit.

So now any major oil company is going to have a look at SNE and how silly COP is selling for USD 430 million.

Hence FAR quite rightly has organised a pathway for FAR to obtain that 35%, who wouldn't do that.

So for current FAR shareholders it is looking very good.

Current share price is very low and more than covered by SNE 2C numbers, let alone the up side outside the SNE JV.

Conclusion

If you have free funds like me, you should be buying big on market as it not often you have such an opportunity.

Downside max loss 6 cents (really) upside North of 25 cent soon ish