“Its the govt that's causing the delay on the PSA.” According to...

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onthepunt

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15/02/22

14:55

Post #: 59584481
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Originally posted by SugeKnight ↑

Scott definitely has not been 'holding out on the PSA pending the grant of the new ground' - its nothing to do with the new ground - the PSA has been waiting to be signed for years before the idea of the new ground existed. Its the govt that's causing the delay on the PSA.

What i'm interested to know, is why they ditched Msasa which i thought was supposed to be the second well (which is already in the lease that IVZ has). It's possible that IVZ pushed the govt to grant them more land previously, and because of that, they need to pick a well in that new lease area - so that they dont appear to be wasting the govt time ? Or maybe because the chance of success at Msasa is too low and they would prefer to have a better shot at a better/different location for the 2nd well (that makes sense). They're already targeting the monster at Muzarabani so may aswell have a different location for a different target ?

But also, why haven't they released the seismic data for the new land, where they have chosen the 2nd well to be. How did they choose the 2nd well based on seismic data they haven't yet released to public ? That doesn't make sense to me. There's still no prospective resource report on the new land, and it seems they just chose the spot based on anomalies in the seismic. If there was something of significance that they spotted in the new land surely they must have released that information to the public. Seems like they are rushing everything as they are missing deadlines and maybe turning to 'panic' mode to try and meet those deadlines.

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“Its the govt that's causing the delay on the PSA.”

According to emails from Scott to holders, “There are a few additional things that we are trying to get done and the PPSA is a useful carrot for us to drive those outcomes.”

It seems every announcement creates more questions than answers. The market needs clarity and we’re getting riddles. I’m not going to dummy spit and sell, but it’s a little frustrating.

IVZ Price at posting: 14.8¢ Sentiment: Hold Disclosure: Held
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