JRI Fireside chat with Scott Macmillan Tues. Nov 28 @ 9:00 Perth/12:00 Sydney, page-111

I agree with Charlesn, ask the hard questions. And when he gives you three vague maybe answers, ask the question again.

I like Scott but we've funded his dream to the tune of $65M plus over the last 24 months and are really still in the dark as to what they have actually found when drilling M1 and M2.

Nothing on porosity or permeability, nothing on the side wall core analysis from M1, nothing on net pay numbers from M1 or M2, nothing on the seismic results from the latest work. Just vague references to "filled to spill"", or "its enormous". They surprised massively to the upside when they announced the 20TCF numbers but since then we haven't gotten anything.

3 questions from me:

Why haven't IVZ released all the details of the works done to date?
Assuming IVZ get samples to surface in M2-ST1 what is the short (3 month) and medium term plan (2 years)?
What is the cost breakdown of the $65M spent so far and how much is left?

Thanks again Matt, should be a great session tomorrow.