IVZ invictus energy ltd

Ill refer to Scott's email to Davey:Key points are: The...

  1. 295 Posts.
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    Ill refer to Scott's email to Davey:

    Key points are:
    • The agreement was initially drafted as a single document, which is standard in the industry.

    • Attorney General (AG) advised splitting it into two agreements:
    • PEDPA (Processing & Export Development & Promotion Agreement)

    • PPSA (Product Processing & Sale Agreement)


    • PEDPA was signed.

    • PPSA was redrafted into two parts:

      • Fiscal (Ministry of Finance)

      • Processing and sale at surface (Ministry of Energy)


    • Independent review of PPSA (end of last year) was poorly executed.

    • External lawyers failed to use local counsel.

    • The draft was incompatible with local law.

    • Complaints were made to the Africa Legal Service Fund (which funded the review).


    • Draft had to be redone, causing delays.

    • Multiple consultations with government departments and AG followed.


    • AG's office later suggested returning to a single, amalgamated agreement.

    • "What changed?" AG found a legal way to consolidate without violating law.


    • The agreement amalgamated into a single document.

    • Existing PEDPA rights are preserved.

    • The resulting agreement is easier to manage and enforce.

      How is this exactly Scott's fault?

 
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