FAR Top Geo accolades, page-22

COP announced its intentions to sell all deep water assets in November 2015 in worldwide news release.  I refuse to believe FAR were unaware or "blindsided" by the concept of FAN and SNE being deep water up for sale.  Did they confer with COP?

http://www.offshore-mag.com/article...ps-to-exit-deepwater-exploration-by-2017.html

I would suggest that FAR waited for the sale to occur and were surprised only by the price.  Then the race began to find a finance partner to try to help shareholders improve their value - and finance takes time with oil in a funk.

By having a dispute over unspecified terms it buys FAR at least 90 more days to hope for oil price recovery and find a partner to do some financial deal to further their own interest.  If it doesn't work out no biggie, they still have 15%.  If it pays off they will likely get extra %.  No lose situation for FAR.  If they need more time they can always force it to arbitration.

I predict that by 2nd week of November we might know something regarding time lines and mediation outcome.  If it goes to arbitration then it could be a very long wait and uncertain outcome.  I don't think COP, WPL, FAR or Senegal really want that.