posted on
Oct 01, 2013 10:32AM
I was also at the meeting and Philip said they wanted to sell at the right price. He did say ideally it would be at phase 2 which to me would be the undeveloped stage priced at $844 an acre but if the price was right I think they would consider anything. He did say 2/3 years to undeveloped stage and 5/6 for monitised but I think it would be much sooner than that. He also said he was talking to his accountants/lawyers to look at how they could split the company so some of it can be sold off. If that could be done it would push up the per acre price if others wanted specific acreage within the site. He said whoever HESS were talking to regarding farm out were off limits to Falcon as Hess would have had an exclusivity agreement with them. Hence starting from scratch re farm out. I personally think we will be lucky if it hits 35c/40c by end of year. Sweetpea have to ask Falcon for permission to sell blocks of shares until Aug 2014 when the block will be lifted and they can sell whatever they want.