FAR

0.00%

52.0¢ far limited

Jhmos & Kfann, Great, we have it, so COP has: “provided an...

First 53 Last

Share
Profile

Follow
Riskup

1,682 Posts.

235

24/05/18

13:20

Post #: 33290383
Share

Jhmos & Kfann,

Great, we have it, so COP has: “provided an indemnification to the buyer for certain potential losses related to the disposition.”

I guess WPL’s legal team prob said “hang on, what if the JV partners kick up a stink about not being allowed to buy the asset at this suspicuously sweet price? ... and get it reversed?

And COP?: “Hey PC, don’t worry bro, it was worth a try; we’ll give you your cash back, it shouldn’t be a drama since you said that you are not worried if you lose the Senegal assets anyway”

Originally posted by Kfann ↑

Hi all,

Been a bit too busy to allow myself to get sucked into the seemingly never ending and revolving queue of fact-absent speculation.

But I did have a quick gander at COP's 10-Q SEC filing and noted the following on page 9...

"Other Planned Dispositions
On October 28, 2016, we sold our 35 percent interest in three exploration blocks offshore Senegal for approximately $440 million, including net customary adjustments of approximately $90 million. In addition, we provided an indemnification to the buyer for certain potential losses related to the disposition. The three blocks had a net book value of approximately $285 million as of September 30, 2016. Senegal results of operations are reported within our Other International segment."

2 surprises jumped out at me on this:

1) COP/WPL have, in the past, loudly hidden behind the sale of the BV holding company as a/the reason for no PE rights.  So very surprised to see them state for the record they sold their "35% interests in 3 blocks".  Not a "100% of shares in BV Coy".  Oops.
2) Providing WPL and indemnification for "certain POTENTIAL (my emphasis) losses related to the disposition".  Hmmm...a break fee perhaps for loss of deal or loss of operationship?

This last point actually brings me hypocritically close to the void of speculation.

It is highly unusual for companies to make such national sized transactional statements which expressly require the approval of the Govt.without some level of Govt comment or statement of approval.  So COP have provided an indemnity.  Fair enough.

So thats just another sliver of evidence that FAR's PE game is still afoot.  But of course, FAR cant say anything until the Govt gives the nod.

Risk has moved more (again) to the upside.

Cheers,

Expand

FAR Price at posting: 9.6¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

LLL

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

KGL

KGL sniffs 19% Cu from drilling at Rockface play in NT

RHI

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

TVN

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Climate change to drive market trends to the moon

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

STN

Saturn’s stars have aligned for the gold explorer’s Apollo Project

ITM

Fast-track assaying yields 182 g/t gold for iTech at new NT play

There are more pages in this discussion • 1 more message in this thread...

First 53 Last

Add FAR (ASX) to my watchlist

(20min delay)
Last 52.0¢		Change 0.000(0.00%)		Mkt cap ! $48.05M

Open	High	Low	Value	Volume
52.0¢	53.5¢	52.0¢	$17.03K	32.56K

Buyers (Bids)

No.	Vol.	Price($)
1	10069	52.0¢

Sellers (Offers)

Price($)	Vol.	No.
54.0¢	22471	1

View Market Depth

No.	Vol.	Price($)
1	10069	0.520
3	110000	0.515
2	35000	0.510
2	45521	0.505
2	33878	0.500

Price($)	Vol.	No.
0.540	22471	1
0.550	82295	3
0.600	25953	2
0.610	2000	1
0.000	0	0

Last trade - 15.03pm 05/07/2024 (20 minute delay)

FAR (ASX) Chart

Jhmos & Kfann, Great, we have it, so COP has: “provided an...

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

KGL sniffs 19% Cu from drilling at Rockface play in NT

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Climate change to drive market trends to the moon

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Fast-track assaying yields 182 g/t gold for iTech at new NT play

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Jhmos & Kfann, Great, we have it, so COP has: “provided an...

Top Stories

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

KGL sniffs 19% Cu from drilling at Rockface play in NT

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Climate change to drive market trends to the moon

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Fast-track assaying yields 182 g/t gold for iTech at new NT play

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News