Estimated reserves: 8.2Tcf + 247 million barrels of conventional gas-condensate1 (~1.6 billion boe) independently verified. That is huge and is easily one of the largest on shore reserves anyone has seen for a while. The fact there is live oil on the surface is a good historical indicator there is something huge underneath (Source Rock & Seal present in the basin – live oil recorded from 3 Mkanga formation surface samples).
Current market cap of IVZ: ~ 90 million AUD. or 16c a share
Why is the SP so low? If they discover even a 1/10th of that number they will still hit a market cap 10 times of present. I don't care if they have to raise 30 million or 50 million on their own to drill or make this thing happen, that is a ridiculous upside. I wouldn't be surprised if IVZ was valued at $2 after seismic and pre drill. Why the hell is reconafrica so ahead of IVZ even when doing things backwards?
Any thoughts?
Why is IVZ so undervalued?
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Last
6.8¢ |
Change
-0.002(2.86%) |
Mkt cap ! $96.41M | |||
| Open | High | Low | Value | Volume |
| 6.9¢ | 7.2¢ | 6.8¢ | $126.3K | 1.801M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 359797 | 6.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.0¢ | 114000 | 2 |
View Market Depth
| Last trade - 15.34pm 09/07/2024 (20 minute delay) ? |
| IVZ (ASX) Chart |