Had a chat to Cath briefly yesterday. She is in great spirits and really doing the best one could hope for.
The FAR function had 20 oil companies and 20 or so govt, Woodside didnt turn up! & it would seem Woodside probably dont have much of a relationship with the govt (although we are bit bias but there is some truth to that).
I asked if the Govt has a preferred party to develop the asset. she was unclear but made comment that if BP did get Cairns % it would mean they have too much control combining with other stuff they are doing in Senegal (so maybe not them). Total is def very interested but Cairn arent being helpful. What is interesting is that whoever buys Cairns % (if) will also take the operatorship. how does this work? Cairn nominate now WPL as the operator (they are holder of the option) and have the biggest % of the field = they can vote it thru. If Cairn sell down to say 10% they dont have the larger % anymore therefore the majority voting power passes to the buyer of Cairns stake (+Far the swing factor). This then makes our little % worth something because owning our % can be the swing for majority ownership/voting of the field and therefore dictates who becomes operator. Woodside easily can make a play for FAR to then insure they have the front seat. but right now no need until the cards get turned over. Arbitration is 1 card to turn over at some point and this is all going along (the process). I alluded to saying this is a legal way for a preferred govt party ie Total or whoever to get a % of field thru FAR winning arbitration. Could sense maybe but not really her focus or thinking. Its about winning then dealing with that after. It was very clear Gambia is not for sale if somebody make a play for us. You can have SNE maybe at the right price but not Gambia! I didnt ask the timing of the farm out as it seemed from the Gambia comment its happening and probably maximising the deal best she can. its a waiting game although we are getting closer to the end. & when it happens ie somebody bids us they will all come out to play. right now its poker and waiting for the first mover.
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Had a chat to Cath briefly yesterday. She is in great spirits...
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Last
40.0¢ |
Change
-0.005(1.23%) |
Mkt cap ! $36.96M |
Open | High | Low | Value | Volume |
40.0¢ | 40.5¢ | 40.0¢ | $464.8K | 1.155M |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 119733 | 40.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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41.0¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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3 | 119733 | 0.400 |
1 | 50632 | 0.395 |
1 | 100000 | 0.390 |
4 | 58133 | 0.380 |
2 | 9198 | 0.365 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 153000 | 3 |
0.425 | 27500 | 1 |
0.430 | 263902 | 6 |
0.435 | 22300 | 2 |
0.440 | 47323 | 3 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
40.0¢ | 40.5¢ | 40.0¢ | 68198 | ||
Last updated 14.47pm 28/03/2024 ? |
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