I was reading a lot of posts speculating about what IVZ would be worth once a discovery is declared. But as pointed out in numerous comments, valuation is also about what they find and not just if they get a sample to surface. A lot have these have been written about:
Whether they also find condensates and/or helium
The porosity and permeability of the source rock
The net pay interval in each measure
The pressures in each measure etc.
Given that there appear to be several measures that will be tested (Pebbly Arkose, Upper and Lower Angwa etc.), I was wondering whether a sample is required from each measure in order to include as part of contingent reserves, or is a sample from any of the measures good enough?
For example, a sample may be retrieved from Pebbly Arkose and Upper Angwa, but is not possible from the Lower Angwa measure for whatever reason. Can the Lower Angwa measure still be counted as part of the 'discovery' and included in the contingent reserve?
IVZ Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
