Sorry - edit to the final paragraph above...
The Third Period (Second Extension Period) is also a 2-year period, extendable by 12 months (Minister's discretion) and will come with new obligations again. As per above, to enter the Second Extension Period (Third Period), a JV must have fulfilled the obligations of the First Extension Period (Second Period) as per the PEL87 contract.
Confusing as hell, but there it is...
Sorry - edit to the final paragraph above...The Third Period...
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