There will always be a level of sovereign risk, but this was addressed recently and most importantly for us, will not affect existing licences or contracts...
"Namibia will not try to increase its stakes in existing petroleum blocks, according to a statement issued by the Ministry of Mines & Energy, but things could be different for future licences.
“The government has no intention to seize any stake from existing mineral and petroleum licence holders and remains committed to uphold the sanctity of contracts,” the ministry said.
...the ministry said government “may demand a certain minimum stake, through public enterprises such as Epangelo and Namcor, in any mineral and petroleum licences that may be issued in future.”
Petroleum Commissioner Maggy Shino said: “We are not changing our regime and our contractual terms. We are committed to ensuring final investments are made.”
PCL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)