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6.5¢ invictus energy ltd

Ann: Renewal of Environmental Impact Assessment Cabora Bassa, page-28

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RealityScience

734 Posts.

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18/05/23

13:15

Post #: 67843043
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Originally posted by Davy Boy: ↑

The ppsa will only effect us from a farm in perspective imo.
I think the co are keen to farm down, personally I’d prefer to keep the 80% until we have a confirmed discovery booked.
If that means another placement for 10 to 15 million then so be it. Hopefully at a much improved sp.
If we do get ppsa and farm down then we will get a pretty big chunk of change imo. The risk of finding HC’s is gone so that adds immense value to WI % worth add to that a whole heap of cash in back costs.
My tip, no ppsa drill one well, farm in probably 3 imo and paying 55% would easily be covered from cash on hand and farm in value with a big chunk left over.

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I can’t recall what’s the reason the company saying it’s unnecessary to have PPSA terms locked prior to commencing exploration? Obviously we did that before drilling MK1. Definitely typical practice to lock in terms before committing significant funds and drilling… without terms signed, in a success case the company’s bargaining position weakened after discovery. Agree with you it’s a prerequisite for farm-in, can’t recall why it wasn’t a prerequisite for drilling MK1?

IVZ Price at posting: 11.8¢ Sentiment: Hold Disclosure: Held
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