IVZ

2.67%

7.7¢ invictus energy ltd

its a billion dollar plus asset and artificially capped until...

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Roch2077

10,189 Posts.

1986

01/06/23

14:25

Post #: 68080492
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Originally posted by MorbidFury: ↑

Looking back at the Aug 22 announcement (i.e. $25m placement)

Use of funds
Proceeds from the Placement will be used to fund the drilling program for the Mukuyu-1
well, testing the Central Fairway play, and Baobab-1, which will test the Basin Margin play:
• Mukuyu-1 Well - $10.0m
• Baobab-1 Well - $13.5m
• Costs of the Offer - $1.5m

Reuters reported $16m following the interview with Chimbodza, while the total cost might have been higher which included lead items and rig. I remember from one of Scotty's interviews that MK2 should be an easier well to drill (potentially straight down) and would also cost less. So they have raised $22.7m + give or take $3m from quarterly cash flow.

It could be that they should be covered for the drill given the drill is warm stacked and if they strike a deal with the service provider for multiple wells that might reduce the upfront cost. Thoughts?

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its a billion dollar plus asset and artificially capped until tomorrow and investors waiting for freebies from share holders that have held before April 5th. Come early trade if the freebies are not there this is off to the races. But waiting for that easy coin

IVZ Price at posting: 13.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.7¢		Change 0.002(2.67%)		Mkt cap ! $110.9M

Open	High	Low	Value	Volume
7.7¢	7.9¢	7.6¢	$133.5K	1.730M

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No.	Vol.	Price($)
6	274157	7.5¢

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Price($)	Vol.	No.
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0.077	328	1
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