WPL acquires CNP Senegal interest, page-69

A truckload of oil at $2.20 per barrel, POST appraisal, at least until Jan 1 2016. Good luck to WPL. The main worry here is the sale price accepted by COP. The field is obviously nothing special in their view to warrant hanging around until production. I mean, they are in the oil business are they not? Are they currently facing bankruptcy proceedings? Not to my knowledge. Things are tough yes, but $430m for a world class basin opening oil find, and throw in your other blocks surrounding this new basin as well? Didn't Kosmos pay about $300m a year or so back for a 60% stake in an exploratory block just to our north. An EXPLORATORY block? Either COP has no long term vision, is looking to exit the oil business or don't think there is very much upside as to what has been discovered thus far or simply is that cash strapped anything and everything is up for sale. No use FAR being courted or wishing to be courted at these prices and at this juncture, we would be sold down the river to some other company with a longer term view. Trust that we can go to production, trust there is more upside to come and trust that we can at least be courted or sell out when oil is northwards of 60 or 7o dollars to capture some reasonable value. Sentiment changed to hold and hope, you wouldn't be buying at the current over inflated SP.
GLTAH.... We're gonna need a heap of it