Lol....don't give Elon Musk idea's!
I FWIW [ I know OTP differs in opinion ] I think that this is possibly the only raise there will be.
IMO this could be because of the cash on hand + back costs + 6.5 million CR now with CEA paying ~ 50%, or
There might be a better farm in deal on the table, more WI more $$, or
There might be another farm in partner willing to kick in for some more WI.
Now before anyone rolls their eyes at that idea bear with me.
IF, big IF I know, the new target, second well is 3-4 TCF that makes a total of call it 11.5 TCF- 25% to Cluff = 2.87 TC F.
- 20% for Geo associates = 2.3 TCF
That would leave IVZ with 6.33 TCF.
Given they have farmed down ~ 50% of the costs for 2 TCF [ 25% Wi ], the amount of P50 prior to new seismic we MAY be able to fully fund for another 2 TCF leaving IVZ with 4.33 TCF.
The potential WI would come back to 30% but we would have about half our original % WI in p50.
All hypothetical of course but given this small CR I have been trying to make sense of it in funding terms.
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