Ann: Quarterly Activities Report, page-67

I have decided (startingyesterday) to slowly unload my IVZ shares for this one reason...no PPSA as yet. SM has been saying that it is of little consequence whether or not IVZ has this in place or not and now he has totally reversed his position.
For me this is a serious risk to a smooth path forward which has the potential to starve IVZ of working capital which it is going to require giant amounts of. Dropping in one well per year at best...this year we will require another $35m or so from now on in. The whinge (excuse) from the ZIM overlords can then be that precious little progress has been made when all is said and done IVZ we should all sit down and see where this is going. Lets examine the options.
Zim requires the gas, Zim is cosied up with the Algerians who are offering help with educating their men in the ways of Oil and gas. Perhaps there is a way the Algerians can come on board (danger) to help this massive project reach its potential a lot faster than is projected at the moment?
It is a real worry that SM was seemingly sweeping the need for the PPSA under the carpet probably to keep the peace for a while longer and to not antagonize the Zim overlords. No pressure thinking they were going to honor their agreements.
Something very wrong with the lack of PPSA especially since SM has claimed all along it was of little importance. Now we are starting to get whiffs of just how important it is...no PPSA no big funder or farm in...maybe even a buyout would be at a ridiculously low price due to no PPSA. Smelly goal post shifting...IMHO DYOR.