battle not the war, page-67

l am sure BG's has asked their lawyers too, so their decision would be based on their lawyers view as well as what is the implications not going ahead i.e. can CTP kick us out of the JV, or can they only take legal action. Lets say lawyers say they cannot kick you out, then that means legal action. Given CTP and ROG 2-3 weeks to get their stuff together. BG's lawyers continue stalling tactics asks for an adjournment till after xmas, etc... sometime between now and then CTP drills and finds nothing, their course of action is vindicated, rinse and repeat. If they find something they kiss and make up. So a few thousand in lawyers fees maybe a small price to pay when millions are being requested for each permit.

I certainly could be wrong, just that I don't see BG walking away from this, and i find it hard to believe the could not find some of the cash to start on some of the leases, of course unless CTP is being hardheaded and insisting that BG commits to the full drilling program of all the leases they are JV partners in which may worry them to the point of not wanting to commit to $100m+ spending.

I would also think BG's risk assessment would also consider the JV partners capabilities and past history. Given last years not so good drilling program BG may also be factoring in the capability of their JV partners to deliver, bringing in ROG (who?) may have tipped this into an even higher risk level.