IVZ media thread, page-897

Regarding a comment above on Sproule resources ... put zero faith in them. They are basically something plucked out of thin air. Just someone's theory. Ignore his experience or qualifications. There's no way to prove or debunk it. Even if by some miracle he is correct or there have actually been more hydrocarbons generated, only a very tiny fraction will ever be trapped and found.

It's similar to EXR, who trumpet a resource that has no solid foundation. Someone has drawn a bunch of sub basins on a map with almost no seismic and a few random wells, and then invented how many hydrocarbons might be out there. I don't believe it should even be allowed by the ASX, but companies can cover themselves with fine print and disclaimers.

As for IVZ's resource, I might make a separate post a bit later seeing as I am seeing a lot of comments which are a bit scary with their lack of understanding. I warn it will be a sobering dose of reality for many. The main thing you have to understand is to take any unrisked prospective resource thrown out there with a massive grain of salt.

And don't get fooled by comments relating to "independent analysis". That’s what I do for a living and while I have some leeway with my main client who trusts what I do, nothing is done without input/approval/suggestions from the client. You actually want the client to be involved, as long as they don't put too much pressure on to get the answer they want (which can happen). And if it truly is independent, I wouldn't want a company to latch onto something they have not been involved with to know properly what has been done. Once a project is completed, companies can also make announcements that are not what the independent contractor would have said.