SP is mired because there's no need for any large investor to get into IVZ until after a few weeks after spud. If you assume spud in mid to late Sept, then you could wait even until end of October before you need to start taking a position.
Everyone needs to stop thinking we'll be 88E or Recon with massive run ups into spud. Both of those occurred during the post-Covid bull market where investors had cash to throw at everything. We're still in the worst bear market in 15 years and no one's investing in an O&G speccy until the last minute. MAY has brought oil to surface and is only capped 2-3 times higher than us.
There's also no need for the Zim government to sign a PPSA until oil is actually discovered. The PPSA is a profit sharing agreement and IVZ won't be generating profits for a couple of years at best so there's no rush for them. It's also incredibly embarrassing from a political standpoint to make a big deal out of signing a petroleum profit sharing agreement only to find out there's no commercial petroleum to sell.
There are too many people here are confusing the PPSA for the PEPDA which was signed years ago. If the government does not have a signed PPSA then we legally do not need to share profit with them.
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1 | 32500 | 0.074 |
1 | 30000 | 0.073 |
4 | 144055 | 0.072 |
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Price($) | Vol. | No. |
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