Ann: Trading Halt, page-404

Things are heading off on a tangent with people suggesting IVZ is no longer confident of achieving a discovery. I think it is likely there will be discoveries from at least 2 reservoirs. In my opinion, the most likely reason for raising more cash at this late stage is the realisation that the Upper Angwa and Lower Angwa reservoirs at the MK-2 location may be significantly thicker than at the MK-1 location. Therefore, based on an expected 2200m MD top Angwa (latest post from VOGC), the anticipated bottom of the Lower Angwa could be deeper than 5000m. For that reason, they will need to redesign the casing string to allow for a change to 6" hole, which is standard practice to avoid fracturing the formation at the 9.5/8" casing shoe.