Reminder - we are a week out from drilling 20TCF with a 45TCF P10, localised to a small area of the basin boundaries
There will be a lot of churning to get through but we've done 20m+ volume today alone - now is not the time to be getting cold feet
We own 80% of this enormous prospective resource. Hydrocarbons found in the 200 Horizon will move us well beyond where we're at.
Thee cap raise also factors in Baobab which could be another large oil structure if Mukuyu fails.
To those complaining over and over about the generosity of the raise to sophs - WE GET IT
Is it ideal or fair for retail? No. But if we hit then we own more than with a farm in.
Everyone here had been crying out for IVZ to go it alone this entire time and now all of a sudden it's a terrible move because retail wasn't included and the options are ludicrous.
I agree, Scott could have easily raised the money in the same time with less egregious deals, and that's frustrating too. But it is done. If we hit, the story doesn't change. Only a 20% dilution in the long run with a new string of pearls and a basin margin play, not to mention the carbon project on the side.
If we don't hit then none of this matters lol. Pre spud 20c, 30c, 50c, $1 - who cares? Shoulda free carried last week
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