Ann: Renewal of Environmental Impact Assessment Cabora Bassa, page-26

The ppsa will only effect us from a farm in perspective imo.
I think the co are keen to farm down, personally I’d prefer to keep the 80% until we have a confirmed discovery booked.
If that means another placement for 10 to 15 million then so be it. Hopefully at a much improved sp.
If we do get ppsa and farm down then we will get a pretty big chunk of change imo. The risk of finding HC’s is gone so that adds immense value to WI % worth add to that a whole heap of cash in back costs.
My tip, no ppsa drill one well, farm in probably 3 imo and paying 55% would easily be covered from cash on hand and farm in value with a big chunk left over.