Getting messier now that its entered the Tanz legal system. Thought OEL had a chance in the Australian courts.
If I understand it correctly, Swala, as operator, can sack OEL from the JOA if they don't meet their cash calls, which has now happened.
Tata did appear on OEL's side but have now jumped ship to Swala.
OEL are attempting to dispute this in Tanzania, with the possibility of independent arbitration.
Whats the chance of getting a fair hearing in Tanz ?
I note it ranks 116 on the corruption index, equal with Pakistan.
How strong is OEL's case in light of Tata having resolved their issues with Swala ?
trading, page-10
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