Mr Hustler wrote:“The tax holiday and then extremely low 15%...

Mr Hustler wrote:

“The tax holiday and then extremely low 15% rate is impressive! Never heard of anything so generous.”

These are the company tax terms only as noted below the PPSA will include additional fiscal provisions which will effect the economics of any field development.

“The proposed PPSA — administered by the Ministry of Energy & Power Development — contains the fiscal provisions of the project, including Zimbabwe’s profit/production share.”

Source Upstream news 8 April 2022

Oil and gas specific fiscal terms on top of general company tax terms are normal around the world, when the resource owned by the state (In Zimbabwe they are vested to the President of Zimbabwe under the Mines and Minerals Act 2021.

Updating of eserves certification will be an important milestone for IVZ and it seems to me hard to get any proven reserves independently certified without a signed PPSA. You can’t run field development economic scenario’s without a complete set of clearly defined fiscal terms and proven reserves must pass a commerciality test (based on those economics). Bringing in a partner and alternative funding options will also be dependant on independent assessments of commerciality.