I hope readers here have had a look at the IVZ entitlement offer documents and are aware of what the company says it will fund.
Note the word "preparation", this leave open the question of when and how funding will be done to complete these planned operations.
The prospectus also states:
"The Directors have considered thematters set out in ASIC RegulatoryGuide 170 and believe that they donot have a reasonable basis toforecast future earnings on the basisthat the operations of the Companyareinherentlyuncertain.Accordingly,anyforecastor projectioninformationwouldcontain such a broad range ofpotential outcomes and possibilitiesthat it is not possible to prepare areliable best estimate forecast orprojection."
The document does not state any expected volumetrics, completion dates or cashflow projections of results as a result of well testing, planned seismic or drilling operations.
It goes on to state:
"Prospective investors should be aware that subscribing for Securities involves anumber of risks and an investment in the Company should be considered ashighly speculative."
Later its states :
"The Securities offered under this Prospectus should be considered as highlyspeculative and an investment in the Company is not risk free."
All I am encouraging is for everyone to be aware of the statements by the company about the risks of this investment rather than focus on some out of date or unsubstantiated estimates quoted on Hotcopper about IVZ's future.
Note I now hold a small number of IVZ (shares and options) but have yet to decide if I will take up my entitlement.
