2002 AIPN Model, page-4

In its public statements, ConocoPhillips also confirmed that its partners had been issued with a preemptive rights notice for the transaction.
FAR subsequently attempted to acquire the requisite information relating to the proposed transaction
between COP and WPL to allow it to make an informed decision on whether to exercise its pre-emptive
right, but was unable to obtain all the information requested. COP simply refused to provide the
information that was required for us to make an informed decision, frustrating the legitimate exercise
of our rights.
As a result, a notice of dispute was lodged in accordance with the provisions laid out in the Joint
Operating Agreement. After failed attempts to resolve the matter amicably and again in accordance
with the JOA provisions, in June 2017 FAR applied to the International Chamber of Commerce to
commence arbitration proceedings.
The arbitration hearing is final and the decision is binding on the participants. There is no recourse.

https://www.asx.com.au/asxpdf/20180530/pdf/43vdpg0m1rhjb5.pdf

I accept what FAR have stated all along since the COP/WPL deal was completed in 2016.

FAR are the original holders of the licence & formed the original JOA after farming out to CNE prior to COP entering.

FAR know their rights & have asserted them. They were correct to go to the ICC whatever the outcome.

Is COP's PE notice going to be ruled invalid? In my opinion, yes.

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