Conclusion - Key Points
- IPB is an Australian conventional oil explorer – Browse Basin
- Relatively shallow water c ~ 80m, shallow reservoir depth ~ 700m– allows for low cost drilling and development
- Large Oil Resource – 672 MMbbls of oil - mean Prospective Resource level in WA- 424-P and WA-485-P (Net IPB share)
- Near term drilling activity e.g. Pryderi-1 – fully funded with CalEnergy Farmout
- Highly qualified and capable Board and Management team
- Current Market Capitalisation at 26 cps (29 July 2013) = $25.7m
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