To PE or not to PE, page-44

Question !
Do you think Senegal would be impressed after their discussions with CNE, Petrosen, FAR, Total, CNOOC and possibly others when they were told -

The reason why we did not counter offer COP's 35% was because COP had slammed the door shut" by wrapping this up in a company purchase that then brought into play significant complications and liabilities "

COP were desperate to liquidate this asset to appease their backers, they had serious issues to resolve and needed the quick fix that WPL offered.

FAR's chairman confirmed this involves multiple companies, yes multiple companies that were shut out because of the covert action between COP and FAR. Senegal would not be impressed and it is very understandable why they are reluctant to rubber stamp the deal.
IMO Senegal are just itching to reject this deal, but also realise they need to be insulated from any litigation and must not appear to be unreasonable.

If Senegal reject the deal there should be no need for FAR to go to court, hence the comment "the matter is now with Senegal" but in any event they are strategically positioned for arbitration.

As this scenario becomes clearer to outside interests and the market in general, FAR are restoring their credibility and are becoming a very attractive investment option.

Bring on next week, it should be very interesting indeed !

AIMO