SilentPartnr,There are (as always) at least two possible...

SilentPartnr,

There are (as always) at least two possible scenarios:-

1. The oil price went down (heaps), the project economics changed and the expendor of the cash (BMG) sought a way out.

2. They legitimately could not come to an agreement, despite both parties have done this kind of thing before.

From my experience, when it is in both parties' interests to move things forward, little things get ignored. When one party finds things to be inconvenient, however, they spend their time looking for exits, rather than trying to mend fences.

Then again, often two parties to complex contracts just can't come to reasonable terms.

[Let's hope it's the second - cleaner, faster.]