IVZ Share Price, page-15484

worth a read, thanks.
A paragraph or 2 extracted below for those that haven't read

POST-discovery Africa Oil Corp farmed out 25% for almost $1 billion
So IF IVZ manages to deliver a discovery in the next couple of weeks, it owns a way bigger chunk of the total project to work with compared to if it had farmed out before.Instead of having to negotiate off the back of a smaller discovery, IVZ can negotiate with a much larger discovery and all of the upside of the “String Of Pearls” targets as a sweetener for any potential future deal

we plan to follow through our Investment until the company drills at least one of its basin margin targets.

For context - Basin margin targets across the East African Rift System (EARS) have an extremely high discovery rate.Across Basin Margin Fault Closures in the EARS - the success rate is 100% (14 from 14) since 2006.
The success rate on oil and gas exploration across the EARS including the basin margin discoveries is closer to ~80%...So technically, IVZ is taking the “higher risk - higher reward” approach to unlocking its basin...Especially noting that Africa Oil’s success came by drilling the smaller basin margin target first, then moving to the riskier (larger) central fairway prospects the company had.IVZ is instead looking to unlock the basin through the much larger central fairway prospect then move to its smaller basin margin targets.