IVZ

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7.8¢ invictus energy ltd

Ann: Drilling Update Preparing to Reach Primary Targets, page-261

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Davy Boy

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27/10/22

12:30

Post #: 64429804
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Originally posted by ozblue: ↑

Sorry to interrupt the conversation, but I like discussing the stock. I've spent a bit of time reading more about the Cabora Bassa basin from this text from the South African Journal of Geology, just to try and find how much oil and gas could have been in this area.....
https://journals.co.za/doi/pdf/10.10520/AJA10120750_662

I'm sure this would have been highlighted before my time here, but may be of benefit to those that haven't read it. Basically there is a shipload of source rock below, being my quick interpretation.

So we have the source rock, we have an active system, we have a good seal and a huge anticline in the sedimentary basin. I'm interested in any information about when that combination didn't lead to gas and/or oil discoveries. IMHO given the sheer number of finds around the world, a good seal with all the other attributes would have to greatly increase the odds of a find in this basin. Again IMHO the odds of there being no gas or oil traps in this basin should be very small.

Of course any one trap could be empty or water filled, but overall the odds of finding substantial hydrocarbons in this basin must now be high (assuming the seal formations are consistent across the basin). Our big hope is finding success early which brings maximum benefit to shareholders, failure on these 2 holes leads to great dilution, which given managements holdings means they have tried their best for first up success.

I'm going to look to grab a few extra in the next week or 2 as the nervous continue to sell. A find here is fantastic for the people of Zimbabwe and they deserve it after decades of poverty through most of the country. We'll do more than OK out of discovery as well, which I think/hope is just a matter of time for all concerned.

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All the ingredients are there.
Live oil recovered at surface from the source rock at outcrop.
We now know there is a " stonking " seal above. These lower targets are a lot less faulted.
Porosity and permeability are very good, measured from the outcrop.
My take is the chances are higher today than they were a few days ago.

IVZ Price at posting: 14.0¢ Sentiment: None Disclosure: Held
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Ann: Drilling Update Preparing to Reach Primary Targets, page-261

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Ann: Drilling Update Preparing to Reach Primary Targets, page-261

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