Well this is getting murkier by the months. So WAPRC have now...

Well this is getting murkier by the months.
So WAPRC have now decided that a direct investment in SDL might be a good thing and SDL have obliged by giving them 300m (!!) shares (now a top 3 shareholder!) to extend terms on an agreement WAPRC/ANS are proposing. (I felt silly just writing that and had to re check the date of the ann)
It is curious (although not surprising) that SDL will issue shares direct to WAPRC when it is ANS signing the Sundance deal.
Little doubt the Cameroon Gov will be after a bit more comfort than the $8m working capital provided by current deal so it would be most interesting to hear what WAPRC or "other parties" are now proposing by way of upgraded capital injection or funding. This would logically be the way forward as the Cam Gov are looking for real dollars for real development.
It is also interesting that ANS have extended completion of the WAPRC deal to 31/12/19 while completion of the SDL deal is only extended to 30/6/19. You would hope that SDL don't have to give away 300m shares for every 3 month extension
It does not make sense to have different end dates when the 2 deals are so interconnected, unless of course the 2 deals are now becoming separate. The initial ann spelt out all the conditions precedent and the completion of the WAPRC / ANS deal was not conditional on completion of the SDL deal. Of course this was quickly brushed aside with no anns from either side. Appears things have changed somewhat.
Are we going to see a whole new deal structure emerge?
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