Ann: Preliminary Wireline results shows Multiple Potential Zones, page-200

I do not see this announcement as critical as some writers have written here. IVZ`s plan could be a reasonable strategy for the next steps as outlined and I can comprehend this strategy without critical points and perhaps even without the fault of BH. Everything fine in my opinion at the moment.

First the quality check and a preliminary log interpretation have confirmed the mud log, which is good! For IVZ this target was met and we have the data. No more risk to lose this important data.

Now IVZ is drilling the Lower Angwa and fingers crossed that this is another formation with good gas shows and that it hopefully becomes a good gas reservoir.

After reaching total depth a wireline log run is planned for the new drilled section. With this strategy IVZ would have had the option to log the upper section as well, in the case they are not happy with the quality. Next they have the option now to order a NMR log to measure moveable hydrocarbons for example, which was not part of the first and second run. The logging of the shorter last section will not take long because it is a short drilling section and IVZ can apply lessons learned from the previous log run and knows already today which parts of the upper drilling section are worth for a test sample and side wall cores. Sounds like a clever scheduling for planning the next steps, doesn`t it?

Moreover Mr Macmillan has the opportunity to keep the news flow from the well site flowing. After the log run of the lower section we will get an anouncement. And after the survey about the moveable hydrocarbons and the side wall cores we will get another announcement.

The 200 Dande formation will be perforated and tested in this well only when all other formations are hopeless and abandoned. And obviously all signs do not point into this direction of such a negative development.

After all logs and surveys and some time for the interpretations, IVZ will hopefully announce that IVZ plans to complete the well and is going to prepare some production well tests.

By the way: iron rough necks never leak any information from drilling rigs. And the other rough necks will not have access to the data and calculations for possible volumes for booking the numbers for the resources and reserves.