Lots to agree with in your post wannbecool. Don't warm stack the rig and use those funds for deepening and flow test...major oversight from SM it appears. The deepening and flow test should have locked in the numbers then a god cap raise based on that new info would have assured the IVZ team they could have then warm stacked to rig and been able to move forward with aplomb. Seems to be a lack of strategic nouse around the order of all things when all things are considered and forward projections and possible outcomes are assessed. I reckon they need a smarter BOD who can assess the future needs (not to far out) either that or a big fat crystal ball. Some in depth thought would have set them on a different course...and the SP would be north of 30 cents now knowing what we would know...shit loads of gas in LA of M2 deepening and a decent proven flow. Then stuff the PPSA. Perhaps the powers that be are holding up the PPSA as they are not that impressed with IVZ leadership and management?. That in turn is holding up the JV which in turn is holding yup the whole show. Warm stacked rig in hindsight was supposed to boost confidence but het...deepening and flowing would have cut that strategy on break! The level of thought processes within IVZ seems to have led us to this place...what to do?
IVZ Price at posting:
7.4¢ Sentiment: Buy Disclosure: Held
