Ann: Quarterly Activities and Cashflow, page-117

I think it highly unlikely that the operator would present the buy option with no previous discuss and expect it to get voted through.

what is more probable is that options would have been presented by the operator to the JV discussing pros and cons and once agreement had been reached the JV would then and only then present the final option.

I don't go for the WPL did this to cause a funding issue more likely as with JV funding other issues eg PE continuing made some of these options a no no hence we ended up unfortunately where we did and so like an old record, and no offense to any old records out there, it's down to FARs decision to push on with PE when it should have pulled the plug