Woodside's showdown in Senegal, page-250

Tony, I stated above I have no insights into the COP/WPL/FAR transaction. All I am aware of is the various company announcements where WPL and COP claim the transaction has settled and payment has been made.

The rest is my opinion based on personal experience which includes the PE dispute I refer to above.

Most JV agreements include a PE provision which is generally there to protect the remaining partner/s from any conflict of interest which may arise should a new party be introduced to the partnership. If the Selling party ignores this provision, my experience is that the agrieved party will need to claim damages from the Seller and that the transaction cannot be overturned without due consideration of the "innocent" party / Purchaser.

Grounds may exist to overturn the COP/WPL sale on the basis that WPL stated they have an indemnity from COP. Again, I do not have the wording or knowledge of this, but if it is shown that WPL were clearly a knowing party to a transaction denying FAR their right of PE, an arguement may be made that grounds exist to overturn the transaction. I can't speculate on this.

Please remember my opinion is worth what you paid for it and that it is offered without accountability.