FAR 1.02% 48.5¢ far limited

The reality is FAR knew months before the announcement of the...

  1. 11,382 Posts.
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    The reality is FAR knew months before the announcement of the WPL/COP deal was sealed, that COP's percentage was on the market.
    Many would have been through the data room during this process, including FAR.
    Therefore FAR had ample time to organise themselves to acquire what was needed re finance to pre-empt but they obviously could not attract finance, a fact.
    On that fateful morning when the deal was announced FAR were caught with their pants down, another fact.

    FAR then sent out whispers that the price WPL paid was to cheap although many undeveloped resources over the world were even going for less than the price WPL paid per barrel.
    This revelation no doubt spooked the board and they might have thought they were next on the chopping block.
    So in response at 1 minute to midnight with no finance in place and no backer decided to challenge the information received in the PE documentation even though even Petrosen and Cairn had no problem with it and have never said there was a problem to date yet.
    That was nearly 3 years ago and things have gone from bad to worse since as we lost 2 directors along the way.
    A million dollars Cath said, that's all, and we will get the result in 6 months.
    How naïve they were.

    Comparing this companies antics, how they relay information to shareholders by tweets and second hand information compared to other ASX companies is cheese and chalk.
    I cant see any change on the horizon going by the last 2 vids.
    The only change that will come IMO is through pressure from the larger shareholders as I doubt they will be happy with this low an SP and possibly more dilution on the horizon.
    If they don't care and are only in for the takeover premium then there will be no changes and ordinary shareholders will just have to grin and bear it till it happens IMO.
 
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49.0¢ 49.0¢ 48.5¢ $30.20K 61.65K

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