Let me just post a correction. I said that the WPL offer was about 10% of Senegal gdp. I've had another look and it's more like 3 to 4%. I don't think this effects my argument. A hundred million is a national issue over there, not a town council debate.
I really don't know how they will play it but you need to understand that the govt is well provided for by the PSA. The JV agreement with the govt, basically says that the govt gets a sizable share of all oil sales, and then will collect around 30% tax on any project profits. It's normal for the total govt take to around 50%. The Petrosen share is separate from this.
Cheers.
Let me just post a correction. I said that the WPL offer was...
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