Ann: Annual Report to shareholders, page-7

@Ya... Note 3e ..... please read in full... oooh Dear
Do Oil Tragics actually read accounts?

• The option to default on obligations in respect of, or withdraw
from the Senegal Joint Venture.
In order to maintain the Group’s rights and interests in the
Senegal joint venture, the Group is required to meet its joint
venture funding obligations. Should the Group not succeed in
securing appropriate funding, there is an option to default on its
obligations in respect of the Senegal Joint Operating Agreement
and RSSD Petroleum Sharing Contract or withdraw from the
Senegal Joint Venture. The maximum default period allowed
under the Joint Operating Agreement is 6 months. After this
period, the Group would give up its interest in the joint venture
without compensation and the Group may be required to make
certain payments after this with respect to obligations payable
at the time of default and over the default period. The directors
continue to take legal advice in respect of the operation of the
default and withdrawal provisions of the agreements.