Imo the only thing that will push the sp in a meaningful way is an announcement that they intend to drill MK2 asap. A 3d program with the associated wait for it to be shot, interpreted will be minimum 6 months imo. Problem with 3d is what will it cost? 4 to 6 million?? Thats potentially half our cash. I believe, if 3d is happening, that there will be a smallish cr, enough to cover 3d + extra casing ECT. Problem with all the above is any cr now will likely be at 10c or below as 3d is not as sexy as drilling. I think SM is in a bind a bit. If he didn't ring around service providers prior to sacking BH, I'd be staggered if he didn't, I can see no earthly reason not to drill a well based on the quasi 3d we currently have and announce a discovery asap. Every other option will see very lengthy delays and the sp will not withstand that imo.
IVZ Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
