IVZ media thread, page-5

Scott is mentioning Q1/Q2 2021 for drilling in a current petroleum economist article. It will for sure take a few months after a farm-out agreement to prepare the work. If you do the math, concrete steps required for a farm-out deal like PSA, EIA shouldn't be too far away if Q1/Q2 2021 is a realistic target for drilling.


https://www.petroleum-economist.com/articles/upstream/exploration-production/2020/arrested-development-in-africa

While it is unlikely any significant project will soon receive FID, some projects will fare better than others. Scott McMillan, managing director of Australian oil and gas exploration company Invictus Energy, which has a portion of the Cabora Bassa Basin in Zimbabwe, says some resource-rich projects are being delayed due to the capex required by their location.“They have relatively small local oil markets and are a long way away from any infrastructure,” he says. “The majority is destined for export and securing export routes has been very challenging.” Invictus has “learned from projects like that, particularly in terms of the evacuation routes and building provisions into our PSC”, he says.
“Inevitably, there are going to be some delays because of Covid. But we are looking at drilling in Q1 or Q2 next year and that will probably still be okay.” Invictus is targeting the regional gas market, where there is large untapped demand that McMillan expects to become acute in 2023-24, with fixed price contracts.