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:
Pryderi -1 Environment Plan lodged 13 Sept. - likely 4 weeks if successful for approval;
Signing of a rig contract – negotiations well underway
- Shorter Term Activities – newsflow:
Exploration Drilling, Potential Appraisal /Eval;
Other Farmouts, Alternate Play development;
Other Govt. Bid Rounds etc.
- Highly qualified Management & Board
- Market Capitalisation at 34 cps 8 Oct. 2013 = $33.6 m.
To view Presentation please download PDF below:
