I'm not active on this platform as my last comment on PEP11...

I'm not active on this platform as my last comment on PEP11 was on 11/12/20 but I do check in and read the strings from time to time. When I last foreshadowed the likely possibility that the approval would not be forthcoming I was pretty much howled down. Despite all that you two are on to something here. Clearly, the rejection and subsequent grandstanding by conservative pollies is simply part of the electioneering process for the Libs who are up against the odds in retaining government. If they win the election it's highly likely that a reassessment of PEP11 will be made early in the new term. Electricity and gas shortages would bring the justification for an about face on their previous position. Additionally, as you say, there is still the prospect of a successful appeal by the joint venture so who knows what will happen here. Despite all the above, BPH could hardly be seen as a viable vehicle as the majority owner in any future PEP11 involvement. Surely the government would choose one of the oil and gas majors for such an important project. Even a successful appeal would have BPH and Bounty placed in the very difficult position of having to raise a lot of funds very quickly plus find a JV partner into the bargain.