Articles on web, page-20

Thanks PhilW. Best we wait to hear it from the "horse's mouth".
Whatever the response from FAR on the issue, I concur with MikeR's view.
Remember, if CNE did waive its PE rights and Petrosen and FAR are found to hold pre-emptives, then each of them need to be able and willing to PE, on their own, for the full 35%. If both Petrosen and FAR indicate the willingness to PE for full 35% (don't think Senegal Gov will do this unless they too are backed by Total et al) the parties PE in proportion to their respective stakes. This means that Petrosen will have to PE 14% 0f the 35% and FAR PE 21% of the 35%.
But then, Petrosen sits with 24% of the asset, it's still in exploration phase and not contributing. Must FAR with it new 36% and CNE with 40% now also freecarry the newly acquired %age picked up by Petrosen?? Don't think so. But this is the reality, an absolute ludicrous outcome if Petrosen was afforded PE rights under the JOA.
So if, for some inexplicable reason the contract was drafted in such way to give Petrosen PE rights which could lead to the ridiculous outcome pictured herein, I then have to go along the line of MikeR's view and would think that Petrosen will not PE.
Farcical if you ask me.