From Cath - thanks Johnnie, page-26

If Woodside and ConocoPhillips believe that 'they have done nothing wrong' then I believe
they will continue will the sale process.

I am wondering if the latest announcement simply means 'Conoco and Wooside have finished the transaction - at their end'? perhaps it is still waiting on approval from the Senegal Government?

The announcement does not mention any approval from the Senegal Government - something I would be shouting from the rooftops in any announcement (if I had it).

Also, the announcements were not synchronised - no announcement by FAR or Cairn (yet) - surely you would make sure all JV companies announced this at the same time? if for no other reason then to do the whole public relations / spin of 'how pleased we all are to be one happy family'.

Also, there is no announcement of any change to the agreement. For example, it didn't say 'After negotiation's, WPL will get 35%, and free carry FAR 2 wells or give FAR X amount of dollars' - oh and by the way 'we all love each other and are one happy JV family' - NONE of this was in that announcement, which makes me think the following might occur:

FAR will likely (in my opinion) go into a TH and then release an announcement to the market stating that they note WPL's recent announcement, basically don't agree with it and are continuing with the PE process - which is likely to run out very soon and then I think we will see another ann about arbitration.

Even Caths' email 'I am aware of WPL Ann' - that's not the kind of thing you say if you're smitten over a done deal and looking forward to working with that company (in my opinion). I think the PE process will continue... and if it doesn't, I am likely done in this stock. Enough is enough.

Ele.