its now plain to see that 25mil buys you sweet f all drilling in...

its now plain to see that 25mil buys you sweet f all drilling in one of the most expensive places onshore in the world so this one well with one side track with flow test will cost them nearly 55 to 60 million which is huge and probably double vs the onshore aus drilling at the moment. As Ive kept going on about this has to be the last well IVZ solely funds otherwise its dilution to oblivion. Do you see the ASX coughing up another 60 to 100million for a 2nd and 3rd well. Its also plain to see at the moment he has no real funding plan (no banks dont fund exploration wells and IVZ is not special) and is going by hope that an awesome JV partner comes along otherwise its raising every 2 to 3 months which is unsustainable and deserdly the share price is where it is at as its never given a chance to recover before the next raise. No other asx200 would be able to sustain such capital raises every 2 to 3 months on a relative scale without its share price being smacked so IVZ is no different or special case