I’m hoping they finally Jv, either Mukuyu or the lot, and given their obvious reluctance to do so it would need reasonable compensation per working interest or it would not go ahead. 22% would leave us with 50% overall.
The other option is to fund the short term work and then maybe JV, Invictus can’t carry the full cost forever, unless we get assistance from within Africa or Zimbabwe, there is not enough outside interest to get it done, at least from the ASX mafia.
What we do know …
They set casing at the bottom of the UA, so 1000-1400 metres to drill out in 6 inch of the LA, part of which has been drilled already.
Rig is on-site so no mobilisation time or cost.
Services yet to announced.
SWC net pay deviation, more likely after flow test.
No firm date for flow test. Looking like July/August if things don’t get moving soon.
3D is ready to go, finance is the hold up.
What we don’t know …
Will they case the 6 inch section?
What infrastructure do we need on-site to flow test?
Where is finance coming from, and to State 4 wells in two Years earlier in the piece, there must have been something going on.
PPSA, the powerbrokers should have enough ducks in a row by now to finally allow this to be done, sitting with the new fund, hopefully they are more in tune with getting it done as it is now their baby.
The waiting is annoying yes, but it is still very early in the development of the Cabora Bassa basin.
I’m hoping they finally Jv, either Mukuyu or the lot, and given...
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