seems to be a lot of speculation that COP will get their money at the end of the preemption date when COP themselves have stated the deal will be finalised End of 2016. See below in bold. I don't consider August / September to be year end as its not even the final quarter
NEWS RELEASE
July 13, 2016
ConocoPhillips Announces Intended Sale of Exploration Blocks Offshore Senegal
HOUSTON – ConocoPhillips (NYSE: COP) today announced it has entered into an agreement to sell its 35
percent interest in three exploration blocks offshore Senegal, which include the SNE and FAN discoveries. The
agreement, which is through subsidiaries of ConocoPhillips and Australia’s Woodside Petroleum Ltd. (ASX:
WPL), is for $350 million plus net customary adjustments of approximately $80 million. The transaction is
subject to approval of the Government of Senegal and co-venturer preemption rights.
“This is an important milestone for ConocoPhillips as we progress our phased exit from deepwater exploration in
West Africa,” said Matt Fox, executive vice president, Strategy, Exploration and Technology. “I want to thank our
joint venture partners for their collaboration and contributions during the exploration and appraisal phase of this
project.”
The three offshore exploration blocks, Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore,
had a net carrying value of approximately $250 million as of May 31, 2016. The transaction is anticipated to
close by year-end 2016.
(20min delay)