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Ann: Trading Halt, page-255

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Causmtn

542 Posts.

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21/05/22

11:03

Post #: 61538151
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Originally posted by onthepunt: ↑

Interesting comparison between Recon and IVZ, both about to drill with different strategies. Of more note is a couple of comments from Scott.

https://www.energyvoice.com/oilandgas/africa/ep-africa/413373/namibia-reconafrica-zimbabwe-invictus/?utm_source=contentstudio.io&utm_medium=referral

1. The first target may hold 8.2 trillion cubic feet of gas and 247 million barrels of condensate. “That resource will get bigger,” Macmillan said. “It’s going to be one of the biggest prospects drilled in 2022.”

2. Success at either well would trigger a “swift appraisal campaign”, Macmillan continued. “The rig is staying put. We’ve got some extra long lead items ordered, including an additional wellhead. We have enough casing to follow up with an immediate appraisal. The aim would be to try and unlock further resources.”

So Exalo have nowhere to be after our second well, and we have enough extra equipment to drill an appraisal well straight away. This is massive.

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What is an appraisal, is it the point at which you determine if the gas has commercial quantities ?

IVZ Price at posting: 27.5¢ Sentiment: Buy Disclosure: Held
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Last 7.1¢		Change -0.003(4.05%)		Mkt cap ! $107.6M

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