Ann: Africa Energy Summit Presentation, page-25

I doubt the company would just sit in limbo indefinitely the idle rig is costing 500k a month so even as painful as a cap raise is before the PPSA is signed it would actually be worse to keep waiting and do nothing past a certain point in time to then really run out of cash. So I'm guessing they need to do something before the end of July whether the PPSA is signed before then nobody knows.

The issue IVZ face is that its gone too far in the campaign for the small JV partners to come up with the cash they are looking for i.e. nobody would be happy with 30% at 30 million and not far enough with a flow test for the majors to throw a good offer for the company