Ann: Half Yearly Report and Accounts, page-11

This is what the company said in their Quarterly in the January 2018 Announcement :

Discussions have been elevated to a senior level and late in the quarter a series of constructive formal and informal meetings were held with senior officials from the Hadi Administration in Riyadh, Saudi Arabia. Officials from the administration welcomed Petsec’s investment in Yemen and confirmed that the process of providing formal approvals supporting the Company’s planned operations was in train. On the 24th of December the Yemeni President announced the appointment of a new Minister of Oil and Minerals, Mr. Aws Al-Oud, an engineer from the Ministry of Oil and Minerals, and known to the Company.

S0 I think it is appropriate to question whether the Government actually supports PSA. They stated that they had these high level meetings in Dec 2017 and that the gov confirmed the process for the approvals. If they had all these meetings in Dec 2017 and the gov confirmed the process why are we here 9 months later ? If they confirmed the process in Dec 2017 why did PSA have to submit documents in late July 2018 ?

Maybe SKB is right and they are waiting for a contribution to the war effort. In any event $2.0mil of net assets will disappear by end of Sept. What next if not a heavily dilutive CR ?