I think WDS will want an iron tight guarantee about the percentages of royalty and shareholding of the Joint Venture from the Namibian Government before it drills PEL 87.If Senegal starts to bite into WDS with the change in Government, they will want guarantee's before proceeding IMHO.PCL has a very good reputation and working relationship with the Namibian Government and are well placed to negotiate on behalf of the Joint Venture but I'm not sure that WDS would be prepared to take second place at the negotiation table.
General Thoughts, page-3201
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