Goldy's post last week that claimed IVR are still drilling at Paris raises the question, have they revised the drilling campaign because they raised the extra cash (2.4 million) in the right issue. If so, it would have been nice if they had informed the market. I estimated based on the scant info they have released about the campaign, the revised downward drilling of around Paris would take 7-10 days at most. The revised plan was to drill 3,900m at peta, the original was 8,500m. As I stated last week, its all possible they have revised on the run, as the current drilling results maybe turning up better results than expected. Also it may just be broken down rig and they were waiting for parts to repair it or they are having issues again with drilling into soft rock.
Either way it would have been nice to have been given weekly updates on how they were progressing.
Goldy can you shed any further light onto why the are still drilling the peta region?
Still Drilling at Paris
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