Ann: Dispute Notice in respect of Joint Operating Agreement, page-5

Seems they are just trying their luck to me. At this stage, just a request to resolve the matter at board level with a somewhat empty threat of legal action, which is in all likelihood baseless as Karoon legals should already have covered any such possibility. Still, nuisance value… might be cheaper to drill the damn thing than pay lawyers any more than they deserve (joke)
Perhaps there is a mutually acceptable resolution that can emerge quickly? I have not actually seen any confirmation from KAR that they are definitely withdrawing from the fourth stage next month, only an indication this was likely in the last QR… perhaps the solution is to agree not to withdraw and drill a second well at some indeterminate time in the future when funds can be allocated (like years away) ? How ironic if it turns out they look in just the right spot next time!