Ann: Total Depth reached & additional zones of strong gas shows, page-365

Hi All,

For those interested, just posting my review of ASX 30/10/23.

IMO, key points:
1. On the basis that fluorescence shows are still being seen at ~3,718mMD, and are seen by IVZ as important enough to be mentioned, this increases the potential for light oil in the shallower sections of the Upper Angwa and possibly the Lower Angwa as well.

2. IMO, the gross hydrocarbon charge interval so far intersected could be between ~1,378 and ~1,518m in thickness. Based on Mukuyu-1 ST1's possible net-to-gross of 24.5% this calculates out at between 338m & 372m of possible net section so far in Mukuyu-2.

3. Good potential for adequate / good reservoir quality continuing in the Lower Angwa.

4. High levels of trip gas - reduction of risk for movable hydrocarbons.

5. Would think IVZ will continue to drill deeper in the Lower Angwa if at all possible - reasons in Slide 6.

GLTAH
Cheers
VOGC