Probability of geological success being one of the the COS parameters we should be able to better define with the current seismic program. I am no expert, but assume that modern seismic will give a clearer picture of geological cross section, integrity of sealed trap, volume of petroleum generating source rock, pathways from source to reservoir, reservoir rock size, porosity and permeability.
If so, and if it confirms what we all hope, then it'll make for great newsflow, a welcome upgrade to the investor presentation, and (being cynical here) a likely increase in overall COS from 5% up to 6%. I know, that in unexplored territory with no test wells, our COS number will only budge meaningfully when we actually strike gas and pipe it to market. Until then I would rather listen to the boys in charge tell us how well things are going than look at the depressing COS numbers
IVZ Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
