we're on a roll guys, page-4

Bearing in mind that BKP are "Protesting" re the validity of four aspects of this program..
1= The validity of the Work Program per se...
2= The validity of the Budget.
3= The validity of the Cash Calls.
4= The validity of the default notices..

Dealing with #1..The work program has commenced, with the spudding of Alpha-1.This is unalterable and can only be accepted as a demonstrable event by all parties..

Dealing with #2..The program costs,(These are factual amounts and no doubt Statoil, as operator can justify that every cent spent on the program, as outlined,is a valid part of the eventual,total,cost component.

Dealing with #3..The Cash Calls have no doubt been made,if only for costs incurred to date! BKP have only two practicable avenues: pay up,or shut up!!

Dealing with #4..If, as appears to be the case, BKP have NOT paid up, for whatever reason, then BKP taking matters to Court, as they have done, in my opinion, will achieve absolutely nothing to advance BKP,s case..

Also,in my opinion,It is solely because of BKP's demonstrable mismanagement of BKP's financial assets, that BKP are dragging the chain re paying for their cash calls.
BKP(mis)Management have been aware that eventually they would have to "flash the cash" or,as is most likely,suffer a dilution of their percentage of the permit holdings...

All of the above is my personal opinion only..