JRI IVZ Fireside Chat - March 26, page-636

I'd guess that the co would have spent ~ 120 million+ so far so 40 million was based on that assumption.

I agree. A comingled flow test with a big flow number attached to it is easily the most important atm. 3D wont be fully ready until next year IMO.
Its heaps more complicated to do all the interp work from my understanding and we are in April already.
My take is the 3D will happen after the flow test.

IVZ's problems evaporate with cash IMO. If they can sell the rest of the 13c shares and book that 30 million it gives the company a decent buffer and maybe enough dough to punch a hole in the shelf edge at only 1200m it should be very cheap.
200 mmbbls of light oil discovery there and the market will not be able to ignore IVZ anymore.