Ann: Hazer & Mineral Resources Terminate Collaboration Agreement, page-83

The binding agreement with MRL was not Geoff Ward’s doing, it was done before he arrived as the new CEO.

It was his job however, to guide Hazer through it’s enactment.

For all we know, he might have thought it stunk.

His experience in senior management at Woodside means he should know the difference between a good and a bad one.

If he did not like it, there was nothing he could do about it until the end of Stage One.

There is no doubt MRL held the upper hand, after all, it was there cash that was paying for it..

About the only way I can see that Hazer could extract themselves from this binding agreement would be to play hardball on the agreed royalties. If this could not be agreed on, the parties would be locked in stalemate.

Perhaps GW pulled that lever and MRL withdrew?