wharf dispute, page-16

Is the new board sticking to forfeiture imposed by the old board ? It is quite possible EGO/ERM voted down Wharf on ongoing blowouts and have not changed their stance. Although not happy about these costs, it would have been an imperative to get the job done. The Courts might consider Wharf's decision as placing too much burden on the others to stump-up on a "must go ahead project". Even though Wharf had put funds in escrow at the time, they were not available at these critical times.

Some ideas here gleaned from the following, on basic structures of Oil&Gas JV agreements.

Google up "oil and gas joint venture agreement"
www.dundee.ac.uk/cepmlp/gateway/files.php?

(sorry only way I can get it to work)