IVZ

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I'm still hoping for M3 in 2024 but it will be difficult to fit...

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ammie

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27/12/23

09:49

Post #: 71623729
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Originally posted by Davy Boy: ↑

Over pressure ramps up from 3400m.
There has to be a seal above the overpressure zone or it would escape upwards.
Lower A, as you say, overpressure was a very important discovery.

The share price is where it is IMO due to the failure of MK1-St.
Whilst we got geo information we lost the shock and awe of a discovery IMO.

We also have had poorly timed CR's that completely took the wind out of the sails, particularly the spud raise which was absolutely the companies fault it happened on spud day.
Its clear to me, despite what the company said, that they discovered the over issue whilst preparing for that raise and the subsequent delay caused the cr to be done at spud. I'd say it would have been done at least 2 weeks earlier otherwise.

We have had extremely poor media, Spoke have been shite IMO, complete waste of dough.
Company announcements have been pretty poor also IMO.
No one could understand if they got a water sample or not from PA and SM said he though it was clear.....it wasn't plain and simple.
The discovery announcement was a shocker IMO. SM's talk of alternate funding was very poor judgement also I think.

The way forward is pretty straight forward.
3D but that means no drilling in Mukuyu will happen until 2025 outside of deepening and flow testing MK2-st IMO.
That makes me believe they will drill the shelf edge straight after MK2 deepening to tie up the extended lease.
We do not want to be asking the gov for an extension now we have a discovery IMO. The leases will be hotly contested property from now on.
Boabab - 1 is 1200m deep so probably only take a couple of weeks to drill.
Having said that it will be interesting to see IF anything changes with their idea's along that shelf edge with all the new data?

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I'm still hoping for M3 in 2024 but it will be difficult to fit in with flow testing and 3D seismic. I'm quite keen to hear what they have planned for this year. It will be disappointing for me, but not totally unexpected, if M3 ends up in 2025.

IVZ Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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I'm still hoping for M3 in 2024 but it will be difficult to fit...

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I'm still hoping for M3 in 2024 but it will be difficult to fit...

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