Ann: Invictus Energy Quarterly Cashflow Report, page-39

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Kotlass

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08/02/22

22:37

Post #: 59443161
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Originally posted by Davy Boy: ↑

You seem to be new here so I'll cut you some slack and give you a history lesson.

Back in march IVZ did a CR to raise funds for the seismic campaign.
They wanted 8 million and it was subscribed to 33 million in 3 hours.

The latest CR was to be for 4 million and ended up at 8 million all closed early.
Soph's ~ 70% of their allocation, SPP to holders got 43% of their bid.....don't get me started on that chestnut.

My point is Invictus could go this alone easily.

They have over 9 million in the bank, CEA [ IF they come in ] will supply ~ 50% of the 2 well program, un capped, with back costs and their paying proportion of costs we are currently ear tagged for. [ yet to be negotiated though but this was the guidance given by Scott in the last webinar ]

So the drilling program is ~ 38.6 million [ 27 million USD ] - 19 = 19 - 9 = 10 to 12 million absolute worst case.....and given the SPP could have raised ~ 9 million and the placement ~ 4.6 million, with a full allocation, I don't see 10 to 12 million even being of slight concern.

There are about $10 or so million in options [ freebies ] at a strike of 17c and 14 c out there currently......IF the sp can get to 20c + on some big announcement, I think a fair chunk of them will be converted.
I don't think all will be held in to the drilling campaign given the wild cat nature.

In short funding the drilling is the least concern I have.
Getting the best outcome for shareholders is all but guaranteed as Scott owns over 70 million shares.

Some big news on the seismic front with a material upgrade will, IMO, bring more farm in offers out.
The CEA deal is worst case scenario.
Lots here think best case is to raise the 30 million and go it alone.

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Thank you for the detailed explanation/history lesson. All good, keenly watching IVZ. Good luck.

IVZ Price at posting: 13.0¢ Sentiment: Buy Disclosure: Not Held
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Ann: Invictus Energy Quarterly Cashflow Report, page-39

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Ann: Invictus Energy Quarterly Cashflow Report, page-39

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