Firstly thankyou for the detailed reply Cujo (I have to write your name so people know who I am talking to) although there is a bit of passive aggressive coming through in your post 'fanciful', 'fantasy fiction', 'you must be joking' which is unnecessary as you still covered everything you needed to without those comments. I will attempt to be more respectful & considered in my response, which I am sure our resident life coach @zipperlip will be pleased with
Petronas have an option/right to take over operatorship of any development. Happy to be proven wrong but there was no mention of Petronas taking over operatorship, if no development, in the original ASX announcement, not sure what you have seen?
I just looked over the ASX announcement of the farm-in again and it appears to remain under FAR's control to me. As I said happy to be proven wrong but FAR are operator and in control of A2&A5 as far as I can tell.
Please get back to me if you have other info!
A beneficial farm down of Gambia will only occur if another companies Geo team also agree that the Saloo/Bambo well has merit. This will be a litmus test of the remaining value of Saloo/Bambo and the acreage.
Agree the six month Gambian extension is weird, but extensions often get granted to previous extensions so I expect a further extension.
Re the WPL takeover, why wouldn't WPL want FAR (at the right price)?
Increase their interest in SNE (+ FAN and broader RSSD) which they have extensive knowledge of,
Get 40% of A2 (possible SNE extension? WPL will know if true or not), get A5 (who knows what is there),
Get WA acreage (although I have no idea how prospective this acreage is),
Get rid of PE (only WPL and FAR know if this case has any real merit - what if WPL are actually secretly sh*tting bricks?).
Yes WPL could likely pre-empt a sell down of SNE by FAR or a takeover of FAR (RSSD anyway) but could they if FAR sold down their interest via a holding company or something to avoid PE??? You cant pre empt the sale of a company someone once said
Easier to just grab the lot off market at a cheaper price?
FAR Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
(20min delay)