Everyone wants us to believe a “speedy”, resolution if we were to win means cash settlement and WPL stays. and that is what the Government wants. Not sure that I agree. What is important to the Govt is “first oil”, and the “big picture “. Big picture doesn’t include WPL. ”First oil”, at this point not necessarily delayed. I believe Big Oil would pick this bog standard conventional development up in a flash?
What ever the ICC decision the show will go on. There are three other JV partners that will make sure of that and the Govt to, notwithstanding that the JV agreements call for it. so I don’t buy in to the WPL must stay argument. Sure that is the position they want to be in and have you believe. The mantra around here by the SHH & WPL Brigade.
I am still quite intrigued that we haven’t heard a peep from CNE? We know they aren’t funded and have the same requirements as FAR. If there are any behind the scenes deals, I suspect that they are with CNE. Was it Jeffries that FAR and CNE used to hawk around a possible joint sell down? We all think nothing came of that and that FAR has gone in a different direction? But it is quite possible that isn’t the case. It is merely waiting for the ICC?
As for compensation. If the ICC granted FAR PE rights, and WPL’s adjustments were a matter between COP and WPL as they sailed off squabbling, that would be compensation for FAR. The ICC wouldn’t then have to do a thing. or make any decisions as such. Be very tidy and put them above criticism. COP WPL chose to close the sale. AJIMHO
(20min delay)