Ann: Africa Energy Summit Presentation, page-79

Great presentation.
Only the deepening of Mukuyu 2 with planned flow test is a weak point IMHO.

I think with all collected and interpreted data & info, IVZ should have a good idea or guesstimation if IVZ can expect a commercial flow rate or not. But it could be that their current guesstimation allows just a dodgy prediction of a lousy, commercial marginal flow rate?

If we see such a marginal low rate from the Mukuyu 2 well test (the test and deepening was promised for Q2, 2024 - I did not see a fixed day for starting the well test in this presentation?), this could be a desaster for the share price of IVZ. My conclusion is that this possibility and risk is the reason of the strategy for the next steps in this presentation, where IVZ is highlighting the improved seismik, the better defined prospects ready for drilling and the coming contracts with Zimbabwe and other companies, to survive - which is ok as strategy for IVZ in such a situation, me thinks