What level of control are JV partners going to insist upon?...

What level of control are JV partners going to insist upon? Don't get me wrong most likely you are correct but it needs to be on IVZ favorable terms...most likely not going to happen.
Tullow grabbed Africa Oil didn't they? Case in point.
The long road is what I was hearing when SM made the comments re getting some earnings happening from the MOU's after deepening and gas flows done. No flow no go!
Zim investors may pony up another $30m for IVZ and then IVZ could begin the process...also talk from a better position to JV partners with scores on the board from flow tests and 3d etc. They could just about fund the next well too if they could drill and finish it for $15m.
I reckon SM has dug his heels in on some level and is only too aware of some of the risk involved with having to accept an
inappropriate JV partner...that would IMHO spell trouble in the medium term...power and greed. Just saying that there is a good deal of other considerations re taking on a JV partner whilst keeping the home base secure and not be placed in compromising positions which require cap in hand requests...the wrong JV could materially weaken VZ's position. In the meantime IVZ would be getting their ducks in line to begin to monetize their available gas...another successful well would add to this! The JV process would also take time and prime focus from management right.