Ann: Invictus Energy Entitlement Rights Offer Opens, page-387

"Firstly, IVZ have already signed the PPSA. It’s the government and the update of the Petroleum Amendment Act that is delaying the enactment of the PPSA. Secondly, our cut would be 100% of production after expenses if there is no PSA. Zim would then get tax receipts and royalties."

Did you mean the terms have been agreed? How can you sign a document that is yet to be finalised? You should expect a ceremony where both parties are seated around a table and the document is sign followed by a photo session. I beg to disagree IVZ have signed the PPSA. It's a legal document and it's yet to be finalised. It remains an unsigned but agreed deal.

From the onset, there was always going to be a PSA. 100% production share after expenses was never going to happen on this premise. Neither the ZIM govt nor IVZ intended to take the project to production phase with only the PEDPA. You underestimate govt powers and the leverage they have. IVZ management know what they are doing by not discounting the importance of the PPSA. It gives them certainty. The PSA firmly secures the goal post in place so it can't be moved irrespective of the govt in power.

Anyway, we can agree the handwriting on the wall indicates there will be a PSA. The govt can stall as long as they wish because the PPSA only takes effect during the production phase which is still many months away.

I respect others' opinion on this matter but this is my understanding of the situation. Tbh, I misunderstood the PEDPA initially because I didn't understand why the PPSA was so important. So I used to think the PEDPA didn't have legal and parliamentary backing.

@Glish Refer to the bolded above. Maybe you found what you shared reassuring and you are building your hopes on the PEDPA alone. You may also find the risks section of the prospectus interesting then. For what it's worth, both are just formalities.