Yes I added all their p50 together.......it was and is the point about the value of prospective reserves. They have had to farmdown to 12.5% but they get a whole lot of spending done for zero risk.IVZ have a very long way to go before they even get to the farm down which will cost plenty in WI IMO for a well in complete wildcat territory.
I have had a preliminary google for a Zimbabwe product sharing agreement but can't find one, happy for someone to point me to it. I hope one exists because if it does not then good luck getting anyone to farm in without a regulatory framework in a country where the leader does not know what a prospective resource is.
As I said IVZ may turn out to be the biggest discovery ever but you won't know that for at least 18 months, and most likely much longer when a well is drilled, their option expiry date in 2021 for drilling is there for a reason.
You can then draw other conclusions about the actual $$ value of BOE as apposed to BBL which block 9 is.
Aimo DB
