hartleys report, page-20

Koko,

Thanks for posting the Hartley's note. I can't believe that they would say a plausible excuse for Shell not exercising was because of a change in Shell strategy!!
The agreement was entered in late March 2009 - surely the Shell strategy and committment to this project would not have changed in such a short space of time.

I expect that Shell will have determined the risk was too high for them to take on at this point in time. This to me would be a palatable result. There is no doubt the conditions in Senegal would be challenging and expensive.