This is EXACTLY what every other smallcap O&G company faces when needing to access finance, it’s not unique to IVZ. The difference being, we have actually found something significant, therefore we’re burning through cash at an unprecedented rate to prove up the find. The O&G community haven’t seen something like this for a long time so I can understand some of the anxiety and confusion. Usually it’s just farm down, drill one dry well, go into hibernation for 2-3yrs, raise more cash, drill another dry well, do a consolidation, raise more cash….and so on. Most investors are just completely bamboozled by the fact we’ve actually managed to hit one out of the park and we’re now swiftly following up to show the market what we have. I’ve been here long enough to know Scott is no fool and he is certainly not one to gloat, but geez I’m gonna be happy to see the look on his face when they light that flare and silence all the sooks currently finger pointing.
It’s been a pretty disappointing reaction from the vast majority here…..funny thing is we don’t see
@7seven7@Kiwigeo8339@VOGC@petere@OldGeo @Surfer Sam etc. have a meltdown do we, because these are astute investors with industry experience who actually understand what we’ve achieved, man they’ve even stepped back from the site it’s that embarrassing, just really uninformed childish behaviour from most here.
Anyway, I’m buying whatever I can down here, because regardless of all the “we’ll never see 20c again”, “we’ll be lucky to see any uplift from flow test” etc etc, I’ve not seen a discovery like this in my time and anyone who thinks a potential +20tcf will be sold for a few $100mill are having a laugh….the companies that will be lining up to sign GSA’s and funding agreements don’t give a fig about what some Woolies or Maccas worker on HotCopper says, the hydrocarbons are worth what they’re worth, plain and simple.
