Ann: Management Q&A Session, page-121

With GALPS sell off there may be a realisation within the Namibian Govt that dealing with smaller players who have lucked upon the acreage only has limited benefits and that WDS isn't big enough to be an effective partner to deliver the broader package of "ancillary benefits" to Namibia and it's people should this field prove up.
It was very clear from the Daily Roundup interview with Jason Katuso the Chairman of Economic Association of Namibia that the broader "ancillary benefits" to the Namibian economy, its people by providing future local business opportunity and enhancing local workforce with transferrable skills from the O&G sector was of high importance.
The potential scale of the Saturn prospect dwarfs anything drilled to date, yet these smaller footprint fields are in the hands of players whose balance sheets and global reach are multiple times larger than WDS, and they have the scale to accelerate development at will which is what the Namibian Govt will be seeking.

At the present the delays are of WDS doing they have not committed fully. Iain said as much in to interview by saying that is was something new for the Ministry and they were working on a protocol. This could be a sign to the Ministry about the future of engaging WDS in a project that is so important.

Sure people will point to WDS in Senegal but WDS were happy to waste 3 years wrangling with FAR before progressing and screwing over their Australian partner in the process though FAR Mgt had already screwed themselves over to the fair. Look at CVN and Santos Dorado project, sure on a much smaller scale but again the Australian partner Santos is happy to draw out the process and leave CVN SHs hanging until it suits them. There is a risk of dealing with Australian partners it seem as much as there is now a risk of doing business in Australia.

Sure International partners are ruthless but at least they appear to act with decisive action they will cut your throat rather than deliver a thousand cuts.

Namibian Govt now have the opportunity to force WDS to act by denying the Licence. The Govt may already have a large multinational in the wings who are willing to swallow the $35M throw WDS to the curb and takeover PCL whole to progress the project on their own, alleviating the Govt of having to deal with the paperwork of sell downs and delays in the future.

O&G is a dirty game