INVICTUS ENERGY LTD (ASX:IVZ) - Phone conversation with Scott - 5th July 2023., page-3 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by WatfordLad: ↑

Sorry for starting a new thread - I know they can be annoying but I have just gotten off the phone from a 15 minute conversation with Scott.
As always he was very polite and welcoming and at no time did I feel he was rushing me to get off the line!

In a nutshell and apologies if I miss anything - I am 62 so be kind to your elders! I can only report from my scratchy notes and some info may not make sense to the geo boys, as it is coming from my scratchy notes as I tried to keep up with what Scott was saying, but I hope the thrust of the message gets through!

1. Sidewall results - all preliminary results are back now. Still some testing being done - some destructive some non-destructive (Please explain Geo/Petere etc!) Some of the core samples were not whole ie. broken up, so makes sampling more difficult. The delay is due to the lab and unfortunately beyond the company's control, but they are not happy with the time taken by the labs.
Results are more complicated to gather, due to lack of fluid samples.
However the results will be released once totally complete.

2. PPSA - There has been progress, especially when SM was in Zimbabwe. Met with Finance Minister and he truly believes that they are totally engaged and want it done too. Scott explained that it is a very big prize for a sitting govt to announce an agreement that can solve the country's energy crisis especially BEFORE the election. He stressed that the company does not want to get railroaded by rushing it. He also stressed that it is obviously a commercially sensitive subject and he is limited by what he can say - but once again stated that there is nothing to worry about there.

3. Spud Date - Definitely on track for Q3. Orders and contracts are all finalised. The spud date needs to stay within a certain timeframe, as the service companies are all committed to the date now. He did stress though, that if there was a blowout of a month, it is not the end of the world considering it is wildcat drilling.

4. Spoke - Scott got quite animated about this question and was startled that people felt this way about Spoke. He said that they are doing a great job. One of their top boys Josh, is ex Upstream magazine exec and he is behind all media and ASX ann's. Scott believes that compare us to any other junior miner globally and we are ahead of all of them with our content and quality of news we publish and the media attention we receive - Reuters/Upstream etc. (Don't shoot the messenger - just saying what Scott said!)

5. Well Pad - location has been selected and will be announced shortly. Seemed very happy and confident when discussing upcoming spud.

6. Was also unapologetic about no news flow. They are working hard to ensure no mistakes are made again re equipment and strategies etc prior to MK2. Does not want to flood the market with non essential info.

7. Share Price - Activity will ramp up shortly and news will flow. Webinars and media release advising results/well location/spud date and timelines will push share price north in his opinion. Finalising all loose ends now and in his words the Official Kick Off will be happening soon.

Sorry for the ambiguous at times report, but the best I could do. I would make a crap secretary!

I stressed to Scott that I was calling as with all due respect- the silence re news was creating a little bit of panic on the HC threads. His replies above have certainly made me feel far better about my investment and i honestly feel we are in good hands. Just my overview, but please, DYOR.

Have a great afternoon guys..and gals.

Expand

Thanks mate for taking the time to ring up SM..much appreciated.

"Still some testing being done - some destructive some non-destructive (Please explain Geo/Petere etc!)".

Some testing involves damaging or destroying the core...eg a compressive strength test. Other tests don't damage the core...eg porosity/permeability measurements.

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(20min delay)
Last 6.7¢		Change -0.001(1.47%)		Mkt cap ! $94.99M

Open	High	Low	Value	Volume
6.8¢	6.9¢	6.6¢	$77.45K	1.145M

Phone conversation with Scott - 5th July 2023., page-3

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