Hi Matt,Many thanks for setting up the meeting with SM.Any...

Hi Matt,

Many thanks for setting up the meeting with SM.

Any technical queries I had have been covered by other Posters, but I would like to have asked, if possible, what the current contingencies are if we are not able to, for whatever reason(s), obtain the required samples from the Sidetrack 1? i.e. does IVZ currently have funding for a second sidetrack or even a third if required (I would have thought the CR on spudding of Mukuyu-2 might have had this in mind? - as my understanding was that the initial well funding had a sidetrack contingency already factored into it?) or the potential to bring forward the flow test so that we can have the discovery declaration, and subsequent net pay, internal resource estimates (hopefully), etc., pre Farmout or further funding requirements prior to the proposed well that, mentioned at the AGM, would be following the flow test.

The Slide below is my attempt, mainly using information from the AGM, of putting together a programme chart for next years activities that have been mentioned. Obviously, a material issue is funding for the well that is proposed to be drilled post the Makuyu-2 flow test, and a funding scenario either by Farmout or equity would have been based on a declaration of a discovery and the release of net pay, etc. information from Mukuyu-1/ST1 and Makuyu-2. Hence the obvious importance of the discovery declaration.

With IVZ comprehensively applying what has been learnt to date at the Mukuyu-2 location, IMO we have a very high probability of success - but we are obviously still in the very early stages of understanding how to drill in this area.

Cheers
VOGC