In the news release regarding the amendments to the KWG/SPQ/FWR JV agreement there is the following paragraph

" Alternatively, if one or more of the optionees incurs at least $5 million in expenditures and delivers a positive feasibility study to the two other parties on or before March 31, 2012, such optionee or optionees, as the case may be, will be deemed to have earned the aggregate 10% interest in the McFauld's joint venture property, notwithstanding that less than $15 million of expenditures were incurred prior to that date. Any decision to undertake a positive feasibility study must be made by the operator of the McFauld's joint venture project, who must notify Freewest of any such decision on or before March 31, 2011."

Todays news release states that

" As a result of amendments to the terms of the Freewest Option agreement that the three parties to it announced in individual news releases on Monday, September 14th 2009, the two underlying agreements between KWG and Spider have now been terminated in order to permit the parties to pursue their independent business interests. "

Would it be unreasonable to assume that KWG will now go after that additional 10% for themselves?

SRV