Renounceable Rights Issue for Drill Campaign, page-22

The biggest week in IVZ’s history has certainly divided holders.

On the face of it the deal looks to favour Cluff by a margin. If this is the deal we run with i would be disappointed. I am quite happy to wait and see what unfolds here because I believe this is just the opening shot. Having said that, there could well be more to this partnership in the event of a commercial discovery, eg. financing a gas to power plant.

Everyone is free to decide for themselves and take the appropriate action for their situation.

We now have a publicly declared drilling timeline.
We have a project manager and a drilling contractor.
We have long lead items ordered.
We have an 8tcf independently verified resource.
We have seismic processing which very soon will pinpoint the ideal well location and quite possibly a resource upgrade.
We have seismic results coming on ground that is outside of SG4571.
We have an option for a farm in.
We have a CR of some sort likely coming in the new year.
We have operator rights.
We have all the cards.