Found this tonight, looks like a condition precedent was a new treaty between Senegal and Guinea Bissau. The existing treaty is finished and the new one didnt get done and the deal fell through. I guess Woodside has the experience of the delays with East Timor and Australia disagreements over who owns the field. I understand why they would shy from repeating that situation.
http://www.leral.net/Senegal-Guinee...contexte-d-incertitude-juridique_a197518.html
TRANSLATION
AGC profond background to termination
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