Since this is all speculation, I can also speculate.
The government, and Keith Pitt in particular, sat on the decision for the exploration permit for months and months, for no obvious reason. If there was a technical or administrative reason why he didn't make a decision either way, nobody was privy to it - or, was in a position to say anything about it.
Given that, and given Morrison's "yeah nah" announcement in defiance of their own processes, and given ths government's predeliction for secrecy and spin, could it be that Breeze and BPH simply aren't able to get any straight answers out of the government? Is PEP-11 really dead, or did Morrison have no legal basis to make the decision? If he did, what are the legal consequences of the decision being made in that way? What were the permit conditions that the refusal was made on? Is there an appeal recourse? Perhaps nobody in the government is giving any answers, and Breeze simply can't move any further without some solid information.
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