Yes agree. Once DOC, then JV enter new phase (development phase I think) to be achieved in certain period (think 2 years. So yes, holding off DOC, creates time. Until DOC ( and if WPL deal goes through) WPL should not be in position to take up option to become operator.
Note however that according to FAR comments, WPL also "seek" operatorship... so it could be that WPL want's to lock in operatorship at this early stage... even before JV (ala CNE) make DOC.. Also remember (stated this many time before), a JV partner need not hold majority stake in order to take operatorship. That's why COP have "OPTION" to take operatorship... even if they just hold 35%. Logic, and legal precedent, suggests that WPL will acquire all COP's existing rights and obligations under the various contracts with the other parties... thus meaning that they also gain the "option" which COP currently holds...So, other than really wanting to take charge straight away, as suggested above, there would, otherwise, not be reason for CN to have mentioned in the announcement that WPL also seek to get operatorship. Should be an automatic consequence as result of existing option in any event but CNE then holds control and can delay DOC as long as possible if it chooses... but as you say, Senegal won't allow these guys to drag their feet... so it's really a bit of short term shenanigans that might be exchanged between the JV partners and WPL. No big deal.
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