IVZ Share Price, page-45

I really don't like commenting on SP projections but I am setting myself a conservative price of $2 by next April. Really though it depends if we have a farm-in or not thereby reducing our % ownership of the project. More % ownership (currently at 80%) than greater the SP.

If a farm-in I would say we would keep anywhere between 40%-50% but IVZ is in a stronger position to negotiate farm-in terms now. Don't forget that we have 2 potential prospects here. Octobers drilling is only for the 8.2tcf Mzurubani formation. Msasa is said to be drilled sometime April/May next year and is a further 1tcf. This all depends on whether we keep to timeline.

With an exploration company, especially O&G, there is a risk that the drill comes up as a duster and doesn't prove anything. So essentially to preserve your capital it may be of interest to take out your original investment amount (or even 50%) to protect against the risk that the drill eventuates to nothing. Or you could completely YOLO it

With the upcoming drilling campaign, nothing is set in stone. Geologists are just professional guessers. You never know if there's something there until gas/oil shows up in the drilling. Scott has been on record saying that the Chance of success is 35% which from my contacts is quite high in the industry. But in reality, it is either there or it isn't so it's a 50% chance of success

What gives me confidence is the fact that Stuart Lake is on board and he has a 90% success rate (290/300) which is unheard of. He wouldn't have come on board unless he truly believes there's something here

Remember Scott is of the belief that this thing is a lot larger than we currently know given the original Seismic equipment used was from the 90s. We're using the state of the art stuff now. As from Scott's reply to me a week ago, they do have the ability to see whether oil and gas is present from the seismic campaigns before drilling begins. He's confident of the bright spot that appeared from the 90s data... imagine what will show with the new data.

Plus recently it has been seen that IVZ would be keen on expanding their current their 100,000-hectare exploration license to something of 1,000,000 hectares. Massive! I'm sure there would be lots of formations that could house potential 0&G. Though apparently these are just passing comments and from my understanding, nothing has been formally applied for.

As first movers into the country though we have the upper hand negotiating with the government than someone new coming in. Our board of directors have some heavy Zimbabwean businessmen who would be advocating the government to support us. Hell even a non-exec director is on the Presidential Advisory Board so he has direct access to the president

These are ramblings I had in a conversation with another IVZ holder and thought they were relevant here