Ann: PEP 11 Drilling, page-77

That’s right. If you watch the discussions on PEP11 with the ministers and govt officials they state that PEP11 will be processed based on its merits and in independence of political interference, that it will be selected on its well established approval process handled by experts in the environmental and petroleum fields NOEPSA and NOPTA. That they see the merits of acceptance of PEP11, and how it will bolster local economies and their gas led recovery in a COVID-19 environment. The ministers have to be impartial otherwise it will be grounds for rescinding their decision if there is clear bias.

These steps are taken to ensure that PEP11 is accepted in a fool proof manner so there are no ifs or buts if an acceptance occurs or any grounds for cancellation.

A user posted the legislation and an email yesterday from a govt official that stated PEP11 permit could be cancelled on the grounds that work was not completed. This application puts that to rest with the April 2020 legislation that recognises COVID-19 as a force maejure event. This means that this application will remove work permit year 4 requirements which were not fulfilled, and consequently cannot be grounds for cancellation. As said, dotting the I and crossing the t. It’s the perfect announcement to put to bed the speculation of pep11 cancellation.

Remember everything has to go through a stringent approval process and through existing legislative frameworks. The tighter Advent can have the ship, the stronger their application, the stronger the approval and the less recourse any relevant parties will have in negating a positive application. Covering their basis for the future. I see no reason to panic, you can’t spin this in any negative way.

NOPTA approval incoming, legislative framework used to write off work year 4 requirements which is a prerequisite for approval. All done legally and within the framework.