IVZ Share Price, page-15753

M-1

- drilled with an excessively high mud weight and a less than adequate rig mud system.
- time dependent hole deterioration with major root cause being mud system.
- Multiple equipment failures with Mudlogging, LWD and wireline services supplied by Baker.
- unable to penetrate Lower Angwa

M-2

- drilled with a much lower mud weight and an upgraded rig mud system.
- Mud engineering overseen by a consultant with experience in wells in Kenya with similar issues to M1.
- Geolog handling Mudlogging
- Wireline being handled by SLB
- Independent QA/QC people overseeing wireline and LWD services.
- Well structurally higher than M1 so able to penetrate Lower Angwa.
- numerous other learnings from M1 applied during drilling of M2 (eg bit and BHA selection)