uganda - why no logging?, page-2

Interesting ideas Capman...

I admit that at first I was thinking this is far-fetched. But I also recall reflecting myself about the recent investigations in Mauritania and how political stability issues absolutely have to influence some of the company decisions. I say that because many millions of dollars of shareholder money is at stake.

I have previously speculated that the Tiof FID/commerciality delay decision (spagetti comments in August/September) would have been influenced by WPL's capex demands and the alternative that they had to commit to their Pluto field (unaffected by political risks). However, I also now realise that they would have had in their mind the coup that had just occurred and the potential for changes to the fiscal regime. I think that fiscal regime issue is even on the cards now, as much as I hate to say it.

I think it was commented on HC about the possibility of the Sterling deal being at the heart of the oil minister enquiry and I am inclined to agree....I know I am rambling but all in all I think there is always the chance of political risk issues influencing the activities in these countries and I'm sure the management doesn't just go ahead and do everything the same way as if they were in Australia.

I hope your interpretation is accurate Capman...

regards
DF