Woodside as operator !!!, page-54

COP for this !
In the early days a deal was struck between COP and CNE. The deal was that the Operator role would be passed from CNE to COP and it's probable CNE was also going to sweeten that deal by selling down to COP.
COP then needed to liquidate so that option was incorporated in the COP deal to WPL to make it more attractive and this was taken up by WPL, hence the silence from CNE to a possible PE.
What we now still have is the operatorship and the CNE sell down still hanging in the air waiting to be concluded.
Once WPL are approved CNE can transact the sell down and FAR will be sidelined, that's my take on what's in play at the moment.
The deal with COP may also have an option agreed to purchase part of the CNE stake at an agreed price and assume the role of operator.
Enter FAR to drive a wedge in that plan. If this scenario is correct FAR's PE aspirations take on biblical proportions. So who is in the crowd knocking at the door waiting for the arbitrators to let them in ? no other than.
Uncle Tom cobbly and all
AIMO