Becomes an entirely different company Mr H if the next 2 years of funding and work are paid for IMO. The basin has largely been de risked and personally I haven't been too chuffed at how slow the eastern lease 2D and prospective resource number has been.....BUT.......my spider senses tell me that is being kept under a lid until the farm in is done.
Upgraded net pay, flow test, couple of more liquid prone discoveries.......a lot to look forward to when the hammer drops. To be perfectly honest if we could get away with say 25% wi loss for 2 years of work programme and a bit of forward sale gas [ my guess is the pilot project gas might be the sweetener for services company ] I'd be very happy with that.
The share price is where it is largely for lack of action. With flow testing and exploration wells coming regularly it changes the complexion of the co IMO.
IVZ Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
