DB,Wrong!!COP sale announced from day one,stating 100 % shares...

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Kimbo24

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30/07/19

22:44

Post #: 39771243
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Originally posted by Davy Boy: ↑

COP via their SEC filing sold the 35% interest....later changed to COP Senegal BV sold, so they issued a pe notice based on the sale of the 35% interest.
The 1995 AIPN, assuming its the version used, clearly states a share sale triggers PE rights, see below.....not only sale of stock but any other conveyance.
COP, to my knowledge have never said PE rights don't exist.......show me evidence where they said this?
They would hardly issue a PE notice if they didn't believe the right existed....would they??
WPL clearly had legal advice that said purchasing the company circumvented PE rights but COP " chose a different path " and issued FAR a pe notice.
FAR claim the " bus " has not even left the station because they were not afforded the information required to purchase on the same terms and conditions as WPL.
FAR lodged a JV dispute as per the JOA inside the 30 days, according to FAR, has reserved their PE right.
Its nothing to do with COP or WPL if FAR had the money or not....simply not their decision to make that is up to the government as per the PSC.
FAR were the operator of the block for years so they had the technical capability to run exploration leases....which is what we still have until exploitation plan approval....but again not a decision for WPL or COP.
WPL were confident COP would prevail but have had to make submissions themselves......
Arbitration will decide who is right.

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DB,
Wrong!!
COP sale announced from day one,stating 100 % shares in COP Senegal BV containing their 35% interest in the blocks.
Best you re-read my post, I did not say COP said PE rights don't exist on their interest in the blocks.
I said COP & WPL said PE rights don't exist on sale of Company.
It was COP that Structured the deal saying PE rights don't exist ont the Company sale,not WPL,who then said it was the path COP chose,not WPL so it was up to COP to deliver the asset.
Lol,
get it right mate.!!

Kimbo87

FAR Price at posting: 6.5¢ Sentiment: Sell Disclosure: Not Held
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DB,Wrong!!COP sale announced from day one,stating 100 % shares...

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DB,Wrong!!COP sale announced from day one,stating 100 % shares...

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