IVZ 1.43% 6.9¢ invictus energy ltd

Ann: Hydrocarbon gas recovered & evaluation program forward plan, page-599

  1. 185 Posts.
    lightbulb Created with Sketch. 80
    Sorry if this has already been answered:

    On 13 Nov we get an update which says:

    Our fluid sampling operation has experienced a minor delay following the commencement of pipe
    conveyed logging operations due to a failure of the primary and backup sampling tools which occurred
    during the sample clean up (removal of drilling mud filtrate from reservoir to obtain a clean and
    representative fluid sample).
    “The necessary replacement parts have now arrived on site and additional backups have been mobilised
    over the weekend.
    We are preparing to commence running in hole imminently to continue sampling operations following
    the completion of tool checks.


    Then 7 days later we get:

    "High amounts of overpull are required to free the drill
    string and wireline tools from several points along the wellbore resulting in tool damage, together with
    holdups and obstructions in the wellbore is typically indicative of hole instability/breakdown.

    Subsequent attempts to complete the fluid sampling program on pipe conveyed logging in the Upper
    and Lower Angwa reservoirs and the remaining data acquisition program have been hampered by tool
    failures. This is primarily related to the conditions, borehole deterioration and compounded by the
    duration this hole section has been exposed since drilling of this interval commenced.

    Due to the limited availability of replacement fluid sampling tools and risk of successfully completing
    the fluid sampling and remaining data acquisition program in the current borehole, the Company has
    carefully considered all options to achieve our objectives for the Mukuyu-2 well."

    I can't tell from the 2 announcements what, if anything, besides "carefully consider[ing] all options" occurred between the 13 Nov announcement and today's announcement. It's not even clear if sampling re-started after the reported failure of the primary and backup sampling tools. If it did - what happened? If it didn't, why not, and in either case why did it take 7 days for a further update? Too many questions unanswered sadly. I'll keep my sentiment at hold as not currently going to sell more, but the lack of clarity is at least concerning to me.

 
watchlist Created with Sketch. Add IVZ (ASX) to my watchlist
(20min delay)
Last
6.9¢
Change
-0.001(1.43%)
Mkt cap ! $99.25M
Open High Low Value Volume
7.0¢ 7.0¢ 6.9¢ $13.3K 191.9K

Buyers (Bids)

No. Vol. Price($)
2 70926 6.9¢
 

Sellers (Offers)

Price($) Vol. No.
7.0¢ 372632 4
View Market Depth
Last trade - 10.38am 16/07/2024 (20 minute delay) ?
IVZ (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.