Agree KZ Kiwi, destructive result for the company back in 2015...

Agree KZ Kiwi, destructive result for the company back in 2015 (of memory), re- duster on last drill by IPB.
Each well drilled is a new journey and hope.
That is, with CVN I was lucky to see 7 drills (again of memory) in the 4 years of holding.
Funny thing oil exploration, when looking for oil gas was found, when for gas oil (Dorado).
One lesson that IPB can/should have learnt is to have funding available even after a drill is put into the ground in case of a rainy day (duster).
This strategy may lessen the blow if expectation or outcome of a drill campaign to not go in favour.
For example, the SP upon the duster dove from 30-40 cents to 1 cent or so. And, if extra funds were in place then we might not currently be in need of a farm in.
Live and learn as they say.
Disclosure: the above is my opinion only and do not or need not reflect opinion or advice to the professional management and team of IPB. Nor was I in my current status a holder.