An intriguing part of the announcement was the second bullet-point, which states the Initial Exploration Period can be followed by three additional two-year periods, subject to certain conditions. This, according to the Petroleum Act, is incorrect. The Petroleum Act explicitly states that a licence cannot be renewed more than twice. Likely an innocent mistake, and not really material here.
I am sitting on the fence on the third bullet point about completing negotiations.
An intriguing part of the announcement was the second...
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