Indeed IVZ are learning from past experiences and now dealing directly, with supply logistics and parts procurements, for next drilling campaign. This should occur as much as they can and surely for the critical parts of the drill, which would/could compromise the whole of next drilling operation. Things like logging tools should have been there and checked from the very beginning doesn't matter what. Sure it costs money to have some tools on site, but what about when they are needed and not available hence the whole well fails...? I am reading about conspiracy theories on the 3D mapping, good luck to those that think plans for a 3D is a negative sign. By joining the dots together IMO Mukuyu-1 trajectory was designed to hit the 200 horizon and upper Angwa, maybe too ambitious from the start......If they only focused on the Upper Angwa, after all that was the main target?! I am not geologist but from the few info I gathered, it is clearly visible a fault line exactly where the Mukuyu-1 drill intersected on the 200 H. Not sure how much oil/gas they where expecting to find there..... It turned out a zig-zag drill that due to the poor quality and lack of equipment and parts, possibly was designed to fail from the start.
Never mind, lets wait for core data and hope for a less ambitious, but more certain oil discovery next time round. Is likely that the market will wait for IVZ to prove they have learned from past experiences, before committing more cash to this project.
IVZ Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
