Read an article in the AFR on the weekend where the MD of Comet Ridge an explorer in the Galilee basin spoke about the benefits of being the 2nd or 3rd mover into a particular area after the heavy lifting has been done by the first mover. This allows the followers to assess often extensive legacy data sets and be more clinical about how they design and execute their drilling programs...
Sounds a lot like IVZ, US$30m spent my Mobil on surveys in the 90s.
Very attractive risk/reward proposition. Just need to bed down this farm out with a major and off we go.
IVZ Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
