Ann: WPL: Offshore Senegal Development Update, page-55

WPL board would be wilfully negligent to continue to spend money on SNE without the sale being sorted. It's as simple as that. TBH, imho. I was totally surprised the JV moved fwd, the line of thinking would have been that if drilling proceeded then that would strengthen their case and a decision made in favour of WPL/COP given WPL have proceeded in good faith to develop SNE.
I am convinced the BOD of WPL have said no more spend until deal ratified. On the other hand WPL have now pushed the button for the govt to step in, whether they do is another story.
What I don't know is whether COP will be required to step up and fund costs whilst this is being sorted. Unlikely IMHO. If the JV stalls heaven knows where this leaves us.
One thing for sure is the govt will be filthy if development is stalled pending arbitration or simply a stalemate. Next move must be FAR lodging arbitration one would think if WPL and COP keep behaving in this manner. So the pressure is on FAR to proceed now.