Speaking of market caps, another oil play l own, CVN has a 20%...

Speaking of market caps, another oil play l own, CVN has a 20% stake in Dorado, which is 80% owned by Santos and is CVN's big play. Dorado is also located in offshore WA with a best estimate of contingent resources of around 150mmbbls in the first phase. Subsequent phases are expected to unlock substantially more than that, however Santos has indicated the option to develop a more gas-intensive second phase at Dorado could be five or six years after the first phase becomes operational. So at 20% CVN stands to reap 30 mmbbls in this first phase.

IPB's best estimates at Idris is 168 mmbbls, but lets go with a conservative 80 mmbbls, at 50% - that's 40 mmbbls.

CVN has a market cap of $415 million which l believe will go far higher.
IPB has a market cap of $9 million.

If this funding is secured, their future is also secured and the true value of IPB will be multiples of where it is today.

DYOR.