And welcomed they are smezz. Rode the CVN train for 4 years...

And welcomed they are smezz.
Rode the CVN train for 4 years myself and sold recently after the Dorado oil find...., great discovery indeed, JV partner now acquired by 80% by Santos.
Hypothetically, as stated by a previous poster, IPB’s 200mil registry and current 100% ownership over their acreage certainly has appeal.
That is, if 50% is retained and a farm out does occur with the current asking price and conditions (14mil drill and approximately 3.5 mil in seismic back pay), then the current MC would definitely be a thing of the past for current holders.
As for the farminee, a 50 fold potential upon black gold discovery at mid range estimates.
So, 20mil in and approximately 1bill out on a 50% share.
Of course, all the above is speculation and not advice nor realise yet.
Time will tell and good luck to IPB holders.