Pressure back on WPL, page-52

Szaba
Senegal has no axe to grind with WPL it is obvious that WPL satisfy the requirements to be a JV partner and operator and on that basis are welcome by Senegal in that role.

What remains in contention is the deal between COP & WPL hence COP's initial statement subject to
"Senegal approval and the JV partners preemptive rights"
Nothing has progressed on these outstanding issues since that statement was made leaving WPL occupying a caretaker role to be reimbursed if COP fails to resolve these outstanding issues.

Their maybe many reasons why approval of the deal remains outstanding, possible tax implications spring to mind and their maybe others that are yet to surface. As an example Chevron has just received a court judgement to pay $300 million dollars to the Australian Tax Office for profit shifting between their parent and their Australian entity designed in such a way to circumvent tax liability.

If there is a possibility of the COP / WPL deal being rejected by Senegal it is understandable that FAR would want to put any pending litigation on hold relating to preemptive rights.
Hence the statement the matter is now with Senegal and we remain strategically positioned to protect our preemptive rights.
Yes you could say the pressure is mounting on WPL and they are powerless to do anything about it.
AIMO