Plenty of nuggets in that interview: 1. Invictus has received proposals for the work from all the major service companies. 2. Invictus would aim to drill these targets in between appraisal drilling and the acquisition of 3D seismic on Mukuyu. 3. Invictus is in “active discussions” with a number of potential partners. “It’s a different proposition now then it was pre drill. It was about geological risk but now the metrics have changed.” 4. Positive results from this well would lead to a “re-rating of the company and the share price”. This would then allow Invictus to “fund a bigger programme and multi-well campaign next year”. 5. PSA; Macmillan said this had gone through two reviews and that “everyone was happy with the fiscal terms”. Lawyers are carrying out the final touches on the document. 6. The plan remains to drill Baobab
IVZ Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
