The story being told before MK1 was if the company took a massive dilution hit and large fund raise to go it alone the spoils on discovery would be majors left right and centre wanting to farm in with large offers. The plan was never for IVZ to try and go all the way alone to production with massive amounts of capital required.
Does it look like this at all is the question that there are farm in offers left, right and centre ?
Maybe if the resource was looking like anywhere near 20tcf (some were pumping 50tcf at the time) then maybe all sorts of permutations would exist, pipelines etc.
But at the moment 1,2,3,4 tcf levels with enough gas to only power Zimbabwe and a bit of South Africa the look and business case of the project changes to how much can you actually charge for this gas to make any gas infrastructure build viable in these countries and it will be nowhere near the import price.
IVZ Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
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