bondi, to state the obvious there are two scenarios:a) Either...

bondi, to state the obvious there are two scenarios:

a) Either PXA believe they have justification to do so and their interpretation of the contract may be correct...

b) They're simply stalling to suit their own agenda...

Like many other shareholders, I believe the likelihood of scenario B is most plausible.

bruno..any party that does not meet obligations must forfeit relevant interests. In the case of PXA or any other farminee who does not meet obligations, they would retain their relevant interest in the wells/permits that have been drilled previously (plus a radius around the well), but have no further rights in the package outside of this.

The inherent risk in PXA's poor level of co-operation is how this affects min work obligations, permit expiration periods and potential for subsequent forfeiture of permit areas. It seems PXA are ignorant to the fact that delaying JV negotations has significant development impacts on itself, it's partners and the hundreds of shareholders that suffer as a result.