"The thresholds that an applicant needs to demonstrate to meet...

"The thresholds that an applicant needs to demonstrate to meet the requirements for financial capacity" source: 29/04/2020, Application for a variation and suspension of work program commitments and extension of permit term- Petroleum exploration permit NSW/PEP-11. Australian Government, National Offshore Petroleum Titles Administrator.

Advent at the time of this assessment did not meets all of these thresholds, fact.

"there is no grounds for Force Majuere" - this is what NOPTA said:

"NOPTA does not consider Asset's internal board issues and dispute with parent entity MEC as force majeure circumstances as outlined by paragraph 2.13 of the Guideline." source: 29/04/2020, Application for a variation and suspension of work program commitments and extension of permit term- Petroleum exploration permit NSW/PEP-11. Australian Government, National Offshore Petroleum Titles Administrator. Then if you read the advice from 31/01/2022,

"The guideline describes circumstances which usually constitute force majeure, the Applicant has not provided sufficient information to meet those criteria and therefore should not be treated as such. The internal company issues quoted by the Applicant are common risks in the industry and do not support reasons for a suspension and extension of the conditions on the title. Corporate restructuring is also not grounds for failing to carry out activities under a petroleum exploration permit within the approved period." source: 31/01/2022 [it says 31/01/2021 (this is a typo)], Application for a variation and suspension of work program commitments and extension of permit term- Petroleum exploration permit NSW/PEP-11. Additional advice following notice of intention to refuse. Australian Government, National Offshore Petroleum Titles Administrator.

As for the outcome of the 2020 NOPTA application I explained that here (your post identified it, it was that they previously submitted an application in 2019 and then withdrew it, and this left "insufficient time", it should be noted, this reasoning is extremely debatable. You merge everything about the force majeure with the real reasoning which is that they previously applied and then withdrew (this is also not a force majeure reason [otherwise everyone would do it lol]).

Your arguments about force majeure completely wrong.