calm before the storm , page-12

sorry was a bit rushed in my previous post. There has been some pressure on Zuma about the MPRDA and other Bills to not be signed. Whether or not this happens have to wait and see, but this could be one of the reasons why it hasn't been signed yet. Other factor could be that Zuma is busy campaigning as it's one week left before the elections. It is important for the terms of the bill to be right as it will impact what level of investment there will be in SA. Like everyone on the CEL forum, am very keen for this to go through so exploration rights are awarded, joint partner named, and start developing the asset and realising its value.

"Furthermore , the Bill now introduces state participation in exploration and production rights under amended section 86A(2) of the Mineral and Petroleum Resources Development Act (the "MPRDA"). Under the Bill, the state will acquire an automatic 20 per cent free carried interest in all new exploration and production rights. This participation, which had been limited to thirty per cent under previous versions of the Bill, is now apparently unlimited. This is a substantial change to the Bill, but was never previously discussed with interested parties, and which contravenes Section 25 of the Constitution. "

http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page71619?oid=601247&sn=Marketingweb+detail