wharf, page-27

The simple answer would seem to be that Wharf pays the outstanding cash calls (which will have gone up since they were deemed to have withdrawn) and are granted their 10% back. However, this doesn't overcome their initial issue with Empire - that there has been no justification as to why the plant cost so much in the first place. They tried to exercise their rights under the operating agreement and undertake an audit on the project but received no cooperation from CM and co. Clearly, they thought there were financial irregularities but they don't know whether it was negligence, incompetence or fraud. Unfortunately, the money has been spent and I don't know if there is any way back from that - EGO and ERM have both had to pay their share of the cost blow outs. They would want to have absolute confidence in the new management team to stump up additional cash (if they had it) to get back in or accept a reduced interest by foregoing its share of condensate sales.