Re: JOA and end game
Agreed contractual obligations are cut and dry.
Thats why probes, bad press, and proxy fights occur. A tiny small cap equity with huge interest in one of the biggest offshore blocks in W.Africa. Its what can be expected.
This needs to be understood and accepted. The justifications and defense of Tullow by HDYN SH is absolutely mind-boggling to me. Its clearly an emotional reaction to dispel any notion that they could be a target. (even after a proxy fight was just fended off!)
Ive said it many times, Tullow has already realized any benefit HDYN could offer and we are literally dead weight they are carrying since the ink was dry on the deal. HOWEVER thats why JOAs and farm ins exist, to enforce deals.
Tullow would drill this at $100 oil or $45 oil, especially if it cost them the same without a bunch of HDYN common shareholder's hands in the pot. I firmly believe HDYN has defied the odds and was expected to be bankrupt and gone by now. To that end, bogus finger pointing sign-off stalemates are being resorted to, in a last ditch effort to try and take HDYN into bK.
The question mark is not the contracts or arbitration, its the ROG gov. The focus is on Ray, Norbury, and Moller to make sure ROG shot callers dont get "tendered" at HDYN's expense. I expect they won't with the circumstances clearly understood and monitored.