PC spat the dummy when he was advised FAR were of the opinion they had not been allowed to concider their PE rights. So at the time the deal with COP was agreed WPL did not expect PE to be an issue.
If COP now allow FAR PE rights, it may open up a WPL claim for damages, in addition to reimbursement, due to COP's negligence to strictly apply the PE terms and conditions contained within the JV JOA..
Maybe COP are waiting for Senegal to reject the deal, based on the parties not being able to reach an amicable resolution and on that basis COP's liability to WPL would minimised, restricted to reimbursement only.
Rejection would also suppress any detail of the deal that they did not want made public under the umbrella of confidentiality.
Wonder if we will ever know what really happened.
probability of FAR's share-price reaching over 20cents, page-48
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