TBH, I think the most critical point that you have overlooked is...

TBH, I think the most critical point that you have overlooked is the strategic significance of recapitalising MMR and returning it to trade.

Of all the concerns Husic may have with the PEP11 applications, the strongest was "financial capacity".

With the extra $3M+ in cash held by MMR, coupled with the approx. $7M held by BPH, financial capacity is now eliminated as a bona fide "concern".

You have made reference to "environmental" concerns, but this falls outside the scope of an SEV application. That will be a matter for NOPSEMA via the pre-drill public consultation process.