Few things:
WPL and COP are existing JV partners in one or more other projects. The one washing the other's hands for something in return down the track.
COP being a "stressed" seller... FAR always made clear it was a " buyer".
Oil at $28pb. Bleak outlook, everyone curbing cAPEX...No one foresaw the OPEC move.
So landscape changed and it was only in recent times, late 2016 when France/Total made their intention clear to the world that they are interested in Senegal Oil.
Early 2016 drilling program was underway and it would be prudent for the like of Total to await those results to be sure the find is really as good as propagated. Total would rather pay much much more for a "sure thing" than getting in on the cheap with no certainty. Total is one of the Sisters who steps in at last minute and take as it wish.
Email from Cath, page-62
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