time to show the face, page-123

This was from the last QR.

Corporate Activity Summary 
 
Farm-out Status Update 
 
Farmout discussions across the Browse, Santos, Tumbes and
Carnarvon Basin assets are progressing with negotiations underway on three of the assets.   
 
Specifically relating to  exploration  permits  WA-315-P  and  WA-398-P  farm-out  processes,  current 
negotiations are progressing with global energy players
focused on their ability to secure a higher equity interest, up to 30%. This differs from Karoon’s previously indicated target range of 5-10%.  
 
Karoon has engaged a global investment bank to formally manage the farm-out process over Block Z-
38 in the Tumbes Basin, Peru.  
 
Karoon will also commence a farmout process during the next quarter over Block 144, Marañón Basin, Peru. A physical dataroom has been established and Karoon is in the process of
scheduling visits for interested parties.  
 
Karoon  remains  focused  on  achieving  the  best  possible  outcome  for shareholders  from  these 
negotiations.  


Now, I would have thought from reading that, that there is considerable interest in KAR's assets, so, I would be most surprised if KAR does not have a position of strength in whatever "negotiations' are taking place.
They are far and away from being in a fire sale situation and also be surprised if they would even consider a full T/O, but, cash AND or high percentage j/vs, need to be found.
This is certainly a watershed moment for the company and its shareholders.