https://www.invictusenergy.com/wp-content/uploads/2022/07/61098326.pdf
Some wank material from the prospective resource report:
The recoverable hydrocarbon volume estimates prepared by ERCE and the Company and stated in the tables above have been prepared in accordance with the definitions and guidelines set forth in the Petroleum Resources Management System, 2018, approved by the Society of Petroleum Engineers.
The Best Estimates reported represent that there is a
50% probability that the actual resource volume will be in excess of the amounts reported. The chance of development is estimated at greater than 50%. The chance of development is the chance that once discovered, an accumulation will be commercially developed. The sheer size of the Mukuyu Prospect, which is located onshore and in reasonable proximity to existing and future infrastructure, increases the chance of bringing future discoveries to commercial development.
The Company has also signed a Gas Sale Memorandum of Understanding (MOU) on 7 May 2019 with Sable Chemical Industries Limited for up to 70 mmscf/d for a 20-year period for a Maximum Contract Quantity of 510 Bcf. A further Gas Sale MOU was signed with Tatanga Energy for up to 100 mmscf/d for a 20-year period for a Gas to Power development in the event of a commercial discovery.
This would likely underpin the development of any commercial discovery. Westwood Global Energy Group have published an independent report on the impact of DHI response on exploration well performance for Technical Success rate (TSR) and Commercial Success Rates (CSR) in frontier basins for five of the most commonly reported DHIs. The study covers 536 wells drilled between 2008-2019 across 95 basins.
The success rates of exploration wells drilled which display DHI attributes is significantly higher than the global benchmark success rates in frontier basins.
The Mukuyu prospect has interpreted DHI responses in a number of horizons and the
CoS ranges provided for the Mukuyu prospect reflect the quality and type of DHI response. The subsequent uplift to the estimated CoS for these horizons is within the range of potential outcomes.
