Ann: $1.25M Institutional Placement & Appointment of Argonaut, page-42

There's a well defined pathway to get to drilling, which is most likely enough should they require a further extension from NOPTA.

NOPTA won't want to have to go through the process of issuing licence to someone else, start the whole process again, so there's little risk IMO that this won't need renewed with EMP, should that need eventuate.

Don't forget, The ACCC Gas enquiry mentioned EMP/Judith bringing this to production by 2028:
https://www.accc.gov.au/about-us/publications/serial-publications/gas-inquiry-2017-30-reports



It should be a fair bit earlier than 2028 IMO. But point being, the VIC/Australian government seem to be working with the industry not to stall these projects.

All of this info can be concluded from already readily available information. I have no concerns about the P47 License IMO.

Disclaimers as always; All IMO, DYOR etc.