SP to rocket on 12/02/2021, page-707

I think the key words from the "Pep 11 Drilling" release are "force majeure". If the Covid-19 pandemic is considered a force majeure event (which has now been established), then the JA is effectively saying that any applicant can claim the pandemic inhibited their ability to meet the terms of their application/agreement. This clearly paves the way for a re-application (now submitted) and hence the request for further extension.

If the JA rejects an extension after having called force majeure which prompted the reapplication, they are going to look pretty silly. Force Majeure buys everyone here more time.

Rejecting the application after FM would have significant consequences for future investment in gas exploration and would be quite damaging to the industry as a whole.