The age of minerals is over. The time of oil and gas has come! (7Seven7DD), page-14

Posting my thoughts on today's investor call / Q&A session with Scott in this thread for ease of access and just for you @CountStonkula

In summary, an extremely well presented session by Scott and the organisers of the session did a fantastic job. The starting slides/presentation was great to get new protential investors up to speed as well as wrap up where we are at today. It was the Q&A though that got me most impressed - Scott answered questions very openly and in a lot of detail - not trying to rush through the session.

In the end a lot of the questions asked were what I had requested in the dis.cord channel so thanks to the organisers for relaying these questions during the session.


For me, the key points are below:

- Once the rig is ready to go and tested, we are good to go for the drill. No need to wait for PSA to be signed, no need to wait for gazettal formalisation. As I understand, we should be drilling later this month.

- On the PSA side, approval due on Tuesday next week, at which point it is just up to the President to sign.

- The president plans to visit the well site in early-mid September. This is amazing. Shows how invested the President is in the project. Will bring a lot of media attention to IVZ, further getting the word out and attracting investors.

- Scott plans to be in Zim later this month at the well site to supervise spud and the first couple of weeks of drilling. Nice to have the main man on the ground, I'm sure he is more excited than anyone to finally drill this target.

- Regarding data acquisition during drilling, Scott answered the questions I had left in the Dis.cord channel in detail during the call but I also had some back and forward with him afterwards via text to clarify some points that I wanted more information on. Very happy with the responses. Noted that they will do LWD and then will pull out and run wireline at the completion of each well section. So we should have logged the 200 horizon with both LWD and also wireline before the lowest targets are drilled. They will run resisitivity so we should know more or less as soon as we hit the reservoir if we have hydrocarbons or not, regardless of any oil/gas shows in the drilling fluid.

- The resource estimate for the second well is ready to go, pending paperwork for the gazettal being finalised. Scott will plan another technical session in the next week or two once it has been announced to explain everything.

- Scott said there is also a "treasure map" of additional prospects in the acreage which will be announced as well once everything is signed off. I get the feeling that there are many many targets and if we have success in any horizon in either of the first 2 wells.... the show goes on and there are lots more targets to drill.

- On the farm out process.... multiple offers being considered. They have CPs that need to be filled before any can be signed/binding (the PSA conclusion and also the gazettal). It is still being considered to self fund - will depend on the market cap at the time and the perceived value in addition to cash that a JV partner may bring.

- In general, Scott was smiling a lot and appeared very happy with the progress and very confident with the program ahead of us.

Happy green weekend all!


Taken from the other thread, thanks for the laugh