Senegalese oil: Total invited to the table, page-88

Extremely unlikely Mr H, the Directors are well aware of disclosure rules and the consequences of misleading and thats just been shown by the Directors reported unwillingness to be tied up with anything in Senegal that maybe connected to Timmis. We are going down the conspiracy path when connecting Directors of Major Companies of deliberate deception, they have nothing to gain and everything to lose..

For me I think you will find Sub 1's comments much nearer the mark when he suggested the price paid for the 35% was the result of a large and motivated seller meeting a willing buyer at the bottom of an oil price collapse. After all Senegal was a small part of COP's operations and they came out with a good profit, in the case of WPL they took on assets that were only at the resource stage with no reserves , all the serious expenditure and risk ahead plus the upper sands had no interference testing and all done when the price of oil was in the $30 range.

Now it's been asked why didn't the JV or other Companies make a move on COP's assets while they were for sale, well they might have for all we know but they obviously weren't successfull but did they need to FAR and CNE had PE rights and other Companies would be well aware of that, why not see what the first bidder came up with first and if it was a low bid then make their move through FAR and or CNE...WPL and COP would also be well aware of that possibility and have made the process difficult...

Cheers Whisky