worst case 3c per share cash best case cadlao , page-78

The deadline / extension has been extended around 3 times before, so once extension confirmation has been made, the arbitration can be allowed to run it's full time.

Note the cost of arbitration, whilst small in comparison to the court, needs to be considered as well as a much bigger potential cost that being Legavi fee. It it can be proved he satisfied his requirement of gaining finance to the wording in his agreement,then Legavi will need to be paid. I think that could be substantially higher than the arbitrators fee.
Also there is a dispute over the buyback amount. Blade says 6. million and Raisama $7.3 million.

More to the point, Raisama claims Blades termination was not legal, and this relates to whether Raisama notice and information about gaining finance before 26 June was reasonable.

BTW I'm only a layperson.

I still believe the arbitrator will say given the sums of money already spent, Legavis personal appearance and the documentation including BP ongoing finance agreement, and with consideration of the global financial meltdown, that Blade should have waited 6 more weeks. Blade are supposed to be assisting Raisama gaining finance. As such Raisama will be reinstated. Blade will be seen as opportunists. Venturaoil opinion of the situation will also be considered.
It is not a black and white answer and that is why they are in arbitration. Arbitration is said to be quick, so late Oct / Nov decision IMO. The big issue then is whether a party will then take court action, which is possible, and that would further delay the Cadloe project.

I think we will be waiting for the arbitrators decision.