It's probably a blessing and a curse. He's running the operation like a proper woodside campaign who have large budgets but in this end of the market it probably needs to be run more like a dodgy 88e campaign. I.E. promise soonish spud dates, huge estimates of resources and even if it doesn't' materialise gives a decent run up then raise capital. STX have also been masters at this estimate large resources get decent raises going and if independent certifier cuts it in half at least they've managed to raise the funds to drill the wells.
Problem is going to be time, as it's going to cost IVZ money in the end. Farm in partners are not going to stump up decent cash if they see IVZ's share price drifting below a 100 mil MC
IVZ Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
