The idea has always been, as most other small O&G companies do, to sell a stake in the project and bring in a major with better access to resources to more quickly develop the field. It also provides guaranteed funding to put towards the development - removing the need for the constant capital raising we are currently doing. The sticking point is to make sure that whatever stake is sold is done so at a price which fairly values the company. At the moment IVZ is quite difficult to value. If we had an offer tomorrow for a 10% stake at $200 million AUD then you can now more clearly value the company and our share price would reflect that. I see that as a second benefit to selling a stake in the company.
IVZ Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
