IVZ

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7.7¢ invictus energy ltd

Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-93

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Greenocean

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27/12/23

12:47

Post #: 71627069
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Originally posted by timmasbd: ↑

I dont think that will be enough - they had about $4 million AUD allocated to running the last 2D seismic campaign, and i don't believe that included all the data processing. I expect 3D to have orders of magnitude more data to be gathered and processed, hence i would think $10-12 million AUD wouldn't be outside the realm of possibility. Would be good if Invictus could clarify, once the entitlement offer is complete, exactly what they can get completed with the money they raise. As others have said, I don't understand the generosity of this raise and the feee options. Every single CR, Scott had said its hard to raiae capital so have to make it attractive etc. But every single time the raises are heavily oversubscribed - and this tome we even have a discovery to bolster things.

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That figure was from Scott at some point, maybe after M1 in one of the webinars or chats.

The area for Mukuyu 3D is a lot smaller than the 2x 2D surveys.

Im only running off memory mate so it could also be wrong.

IVZ Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
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Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-93

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