New Day

Came to me this morning why Woodside backing out meant Petrobras had to withdraw its appeal.

Lets say Karoon lodged the bid and named Woodside as a possible partner in the section headed "Where's the money coming from?" Woodside says no please don't name us and the bid is amended with no reference to Woodside or other specific backers.

Court then issues an injunction that stops all further consideration of the sale. STOPS!!! Very important - not delays, not keep proceeding but don't sign anything. STOPS!!!!

Parties named in the action Karoon, Petrobras and ANP - not Woodside

Then magically Woodside and Petrobras just happen to start talking about Tartaruga and Bauna and Petrobras says sure have a look at the data room - why not your not a party to the deal that's subject to an injunction that prevents us progressing a sale so whats wrong with that?

What's the chances that a Judge has suggested to a couple of Petrobras Exec's and the lawyers - if you keep going this will need to come out

"So how do you feel about contempt of court charges?"