Ann: Invictus Energy Webinar Technical Briefing, page-136

I try to temper my enthusiasm as well Chocbloc.
Its always in the back of my head this is wildcat and extremely risky.
I have learnt the hard way with FAR just how risky this business is.
For example the last duster FAR drilled was less than 15km away from a multi billion barrel oil field, in fact they drilled, offshore, 500m away from the border between Senegal and The Gambia, and still didn't hit oil. This is after one duster already drilled further away.
They had 2 lots of the latest 3D and 2 previous wells and still no cigar.
IMO there are 3 ways to play this.
1. Hold and pray for a discovery.....likely early retirement strategy or dole queue.
2. Free carry prior to spud.....or at least lighten the load to a point if it goes pear shaped you will still be chuffed with your profit.
3. Sell the lot in to a big news event and then buy back on discovery.
I watched CVN open at 25c on the announcement of their discovery and it went to 75c but offshore is a looooonnnngggg slllooowwww buisness and CVN drifted back down to discovery levels eventually.
I'm not in group one I have way way too many for that......but I will probably find myself partly in group 2 and 3.
I do see a massive massive opportunity to set one's self up for life with this drill programme.
IF IVZ make a discovery I will probably become a very long term holder in the queue for dividends once electricity generation kicks off......that's IF IVZ ever get to that point.
South Africa buying all its gas from one supplier......I can see great interest from many many large industrial gas users in IVZ post discovery.
Best of luck with what ever you do.