Why is everyone hung up on the PPSA? SM himself said the terms that they have are extremely favourable with the current arrangement. Has anyone specifically stated that without it there will be no JV or is this more speculation.
IVZ have THE most important document signed which is the PEPDA which is IVZ’s main security.
I’d be interested to be pointed to the document that says No PPSA = No JV or no Farm in.
i think other posters view of no commercial discovery is the most likely.
Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-384
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