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8.8¢ invictus energy ltd

Ann: 2D Seismic Identifies Multiple Prospects in Dande Formation, page-123

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Wildcat77

855 Posts.

108

07/05/24

14:29

Post #: 73705345
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Originally posted by Davy Boy: ↑

It changes a whole lot.
One of my biggest concerns has been how we were going to afford drilling a well outside of SG, and how that was going to happen before mid June next year.
Had we failed to complete the work program for the EPO's, based on the drilling assumption, the Gov would be with in their right to take the lease off us so IMO it was very material.
So just for 100% clarity ALL work commitments have been fulfilled for both SG and EPO's which has put my mind to rest on the EPO licence area's.

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DB you T20 now bud?

Must be to be getting the SM TLC.

Originally posted by Davy Boy: ↑

Well I must be in the good books, I got another reply, making a clarification, which came as a complete shock to me.
Apparently because the extended leases were not rolled in to SG4571, as they were going to be, there IS NO COMITMENT required to drill a well in the extended lease area by mid 2025.
Basically the EPO and SG are treated separately.
I'm also led to believe that the work requirement for the 2 EPO's has been fulfilled by the 2D seismic currently being processed.

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IVZ Price at posting: 6.9¢ Sentiment: Buy Disclosure: Held
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