My read is that the spudding is subject to the guarantees (from Otto and Tata) being posted.
The guarantees (from Otto) being subject to the MV Upstream farm-out being allowed (and hence funded by MV).
The farmout being allowed by SOGT, subject to the litigated claims being settled.
The settlement of litigated claims dependent on ....???
I don't have a feel for what Tata Petrodyne require before agreeing to their share of the guarantee.
Progress, but not there yet.
Ann: Extension of Kilosa-Kilombero Licence and Update on Tanzania, page-4
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