Ann: Mukuyu-2 wireline logging progress update, page-511

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Mr.Hustler

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10/11/23

08:53

Post #: 70823530
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Originally posted by Davy Boy ↑

Yeah I remember, although I bought in after the discovery.
It was a long and sordid affair Mr H.
I look at whats happening over at AVZ with their 3-4 arbitration cases running and roll my eyes.
FAR in the end were shafted by big oil and not knowing their own JV agreement.
If this find is massive then the same players will be circling and those here hopeful of a big O&G joining are likely to get a similar lesson.
I suspect SM knew some of those involved in FAR and hopefully has learnt you simply can not trust big oil at any time on anything.
I'd like to see a farm in to someone with enough cash to do this properly but small enough that we still have a say.
Although I have held the long term view that when the price is right SM will exit stage left. He was smart enough to have a 1% royalty built in for himself, pure genius IMO if it comes off. His 70 odd million shares will be spending money.

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Yes, it scars you for life. When PCL negotiated with Woodside for their current option to farm in I considered selling the lot. But, I think they learnt something from the FAR saga and I noticed there is a royalty option to be free carried to production, something FAR never had.

IVZ does have the advantage of a much larger holding percentage which gives them the option to sell down for good $$$ and onshore development should be much cheaper also.

IVZ Price at posting: 21.5¢ Sentiment: None Disclosure: Held
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Last 6.2¢		Change -0.003(4.62%)		Mkt cap ! $87.91M

Open	High	Low	Value	Volume
6.7¢	6.7¢	6.1¢	$269.7K	4.305M

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1	5998	6.2¢

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No.	Vol.	Price($)
1	5998	0.062
6	300263	0.061
16	1970075	0.060
5	813558	0.059
2	38188	0.058

Price($)	Vol.	No.
0.063	11689	2
0.065	284129	3
0.066	165000	2
0.067	180926	3
0.068	494634	1

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Ann: Mukuyu-2 wireline logging progress update, page-511

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Ann: Mukuyu-2 wireline logging progress update, page-511

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