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IVZ

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Renounceable Rights Issue for Drill Campaign, page-19

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huaneng

1,619 Posts.

415

12/12/21

21:38

Post #: 58244397
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Originally posted by jakspara: ↑

This is merely an option…..an option. Mr Macmillan hasn’t sold anything, they have merely set a floor for interested parties to up the bidding from. If there are no other interested parties and Cluff decide not to up their offer, then Mr Macmillan has the option to accept the only offer available or go it alone. I’m not sure how that can possibly be perceived as preparing a bad deal. Either the interest from outside parties is there or it isn’t. He is literally trying to secure the best available deal. The point about a successful drilling campaign requiring further funding for 3D and appraisal is something that I feel is not being appreciated enough. Having a partner like Cluff onboard at that point would be a master stroke, this point is clearly being massively overlooked when valuing the farm in option. I think too many are getting fixated on the percentages and dollar amounts, when the fact of the matter is nothing has been signed and there is no binding agreement. Realistically, as it stands there is no deal been done, merely an option has been put on the table to weigh up against other options. Let’s see what unfolds between now and March before casting too much judgment.

P.S. btw it’s Mr Macmillion

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I would prefer Mr. MacBillion

IVZ Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
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