Considerations Here are a number of points to think about:
1) The 13% partner has agreed to have their carried interest valued by an independent 3rd party. It will be heavily discounted and, in Chet's words, "won't be worth much.". A few million perhaps.
2) The carried interest of the Senegalese government will continue to be carried forward. They will not receive any money from the buyout.
3)The idea that some Senegalese parties are in a position to raise $150 million to buy a 25% interest in the joint venture is pure fantasy. That clause was put in as a public realtions gesture.
4)The Saudis want cash only for their interest.
5)Teranga may be a logical candidate to take over Oromin, but remember that they paid 12% for the $60 million dollar loan to expand their pit, and they are still labouring under the burden of the gold hedge that was imposed on them by the bankers when they borrowed the money to go into production. How could they raise the cash to buy the Saudi share?
By the way, does anyone know where the money is coming from to pay for the Feasibility Study? Those things aren't cheap.