Ann: First Supplementary Bidder's Statement, page-3

Not sure what's going on here; Armour playing 11th hour hardball, indigenous traditional holders wanting a better deal, AEP stalling for time?
Waiting for a reply to this from our board.


There is currently a risk that one or more of the outstanding conditions may not be satisfied by the Cutoff
Date. In particular, AEGP understands that it has now become unlikely that Armour will be able to
satisfy the condition precedent that an interest in the relevant native title agreements is assigned to
AEGP before the Cut-off Date in the manner required by the Farm-out Agreement. Armour has
proposed an assignment of the interest in the relevant native title agreements in a manner that is
materially different to the requirements of the Farm-out Agreement (including the requirement that
each of the native title holders are party to the agreement intended to effect that assignment). AEGP
is not prepared to accept Armour’s proposal and requires Armour to comply with the agreed condition
precedent in the Farm-out Agreement.
If one or more of the outstanding conditions (including the condition precedent to assign to AEGP an
interest in certain native title agreements), is not satisfied or waived by the Cut-off Date, either party
may either seek to terminate the Farm-out Agreement (in which case the American Energy​

Transaction would not proceed), or to re-negotiate it.