In my opinion, based on the 230 mboe estimate by wood Mackenzie, and using a very conservative spot price, profit margin % and Aussie/us dollar rate, the minimum val for ivz should be around 375 million which is almost 3 times what it is currently. And this is just based on 1 well and not even considering the entire acreage which is enormous. The flow test will ultimately be the key as to whether commercially viable rates can be achieved.
Ann: Invictus Energy Corporate & Operational Update, page-257
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