I just find it funny that PC and WPL who started this whole PE...

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WhiteNoise

6,650 Posts.

29/08/16

07:40

Post #: 18752016
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Originally posted by zacma ↑

Great week end. Nice and sunny in Sydney. Plenty of interesting posts.
To sum it all up, we can break it up as follows (IMOO):
The knowns
1) COP has not adequately notified their JV partners to satisfy the P/E conditions.
2) FAR left the problem of inadequacy till late, presumably to suit themselves (sign up a backer) as much as COP & CNE appeared to play their game.
3) FAR would not play this game nilly will, without a particular outcome.
4) FAR could not afford to buy 35% and become operator in their own right.
5) FAR would not indulge in this game without having a suitable deep pocket backer.
6) All games are high stakes.
7) The prize is valuable.
8) Money has no emotions
9) The entire issue has nothing to do with WPL in the first instance of resolution.
The known unknowns
1) Has Petrosen being for all intend and purposes the Senegalese GVT, instructed FAR to achieve a certain outcome, i.e. find an acceptable long term partner.
2) Is this long term partner TOTAL SA.
3) (As pointed out in one of the posts) Does Senegal receive foreign aid from France?
4) Could the inclusion of TOTAL SA have some political interference. (oil security for France)
The unknown unknowns
1) Will COP play hardball and pursue these matters through the Courts
2) Will COP simply say OK as long as we get our money by the end of the year. (would life not be easy)
3) Has COP Houston done a side deal with CNE and/ or WPL.

To sum it all up, IMOO, the high stakes do favor FAR at the moment. One should never under estimate the facts that without FAR no Senegal oil. One should never underestimate that out of 12 FAR employees the top three are not only Geophysicists, (professional nerds) but also experienced contractual and financial players who know what they are talking about.
We are small but not irrelevant.
GLTA Interesting times are coming.

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I just find it funny that PC and WPL who started this whole PE issue by announcing to the ASX that's they had enter a deal to buy before letting FAR know.

Rude and unprofessional to say the least.

Now WPL is flapping around like a fish out of water asking FAR to disclose to WPL what FAR intentions are

Hello

Why should FAR tell WPL anything?

Although even blind Freddie can see that FAR has a sugar daddy

FAR Price at posting: 7.6¢ Sentiment: Buy Disclosure: Held
56 Upvote

0 Great analysis

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I just find it funny that PC and WPL who started this whole PE...

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I just find it funny that PC and WPL who started this whole PE...

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