Basically the way it’s worded, it sounds either a debt covenant has been breached or the likely scenario that the Yemeni government is claiming we can’t meet our obligations. Geez
Seems like someone in the ministry is trying to get our block for free. The issue is that fighting against a corrupt culture will normally end badly. If we don’t pay then we get delayed which is what has happened even though we had done all things by the book. The people of Yemen will end up paying for it.
Either way it’s heading to court. It’s not a good thing in a war torn country, the normal avenue for dispute resolution may not exist or be resourced properly. I would say it may be disputed in a foreign court that will act in place of a Yemen court.
PSA Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
