IT all comes down to CNE, page-182

"Hence nice idea but I can not image WPL giving the remaining JV a USD 1.0 billion free carry."

Nor can I but one think you can be certain of WN neither party will get everything they want and like all these things a compromise will be required. In the end it won't proceed if WPL can't match our requirements.

I would imagine dealing would need to be related to the new RISC update numbers and both CNE and FAR will know the expectations there but the $ per barrel would be where the horse trading would happen IMO.

The issue for FAR and CNE going ahead with pre emption is being caught with not finding buyer meeting their expectations quickly and being stuck with the appraisal/ development costs untill they do .

Personally if we could get WPL to cough up another $US 4-500 free carry we would be doing very well indeed , before WPL came along we had nothing and the possibility of COP going all the way.

Cheers Whisky