WPL and FAR discussion, page-37

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oze_wolverine

2,647 Posts.

128

04/06/18

21:23

Post #: 33487225
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Originally posted by Davy Boy ↑

How do you know they didn't have the capacity to PE? Its not fact just because you say so.......
The point is moot anyway because FAR did not receive a compliant PE notice......the very reason FAR have sought relief at the ICC.
COP refuded to supply FAR with the documentation required......who would PE in those circumstances?? Only a blind fool would.
CNE did not dispute the PE notice so they have no claim from that point on.
The biggest point here is IF FAR win WPL are the biggest loser not COP.
Loser in value terms. The price of oil is double what it was when the sale went down and we are only months away from booking 2P reserves which will add significant value to those barrels.
Coleman said himself that this had never been tested under Senegalese law so any statement from any side one way or the other is premature, and I imagine WPL management would be preparing.....of course unless they just walk away.
Some WPL holders need to do some research on the Senegal PSC which clearly states the conditions of arbitration, one of which is any decision is binding on all parties and another is if one party decides to ignore an arbitrated decision the licence can be cancelled by the government.

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It's not fact because I say it is...you are correct.

It is fact because they didn't have the money and couldn't raise it in the time frame.

A blind fool would PE the "cheap" asset and not quibble over what was in or out of Senegal BV. At least that is what I would do but if I didn't have the money I might try and game it once I found a legal foothold.

Well done FAR you might get away with it.
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