Ann: Invictus Energy Maiden Prospective Resource, page-109

Pre announcement was 4.1, so still 20% in the green for those that got in at that price.


As for how many holes have been drilled, obviously none, it’s an independent resource target that takes into account the lower and upper limits, with a mean of 3.9TCF from one target.


As for the depth of the wells, it’s fortunate that it’s onshore as for those wells to be drilled offshore at that depth (which is common practice) is more costly.


If you want a quick flip go elsewhere, the team here are looking at building a company from what was a previous shell (Interpose, hence the selling). There are plenty of pump artists out there for those who want an overnight sensation.


Scott has already indicated that drilling a well should cost between $10-$20 million per well. Considering the market cap is currently $25mil fully diluted I expect for some of the 80% ownership to be sold off to fund this.


As for how quick that comes all depends on getting the right deal, plenty of companies out there jump at anything. Invictus has a clear strategy of defining the rest of the resource and potentially others then going to market for the best deal possible, remember Scott holds a large portion, as do his family from looking at the top 20 & also directors, they won’t sell themselves short.


I believe Scott is travelling at the moment for invictus, back in Perth and then off to London to promote. So give it some patience. Remember the cash burn here is smaller than some asx listed shells.


Remember as Scott said......

“This prospect has never been seen before because no one has been prepared to invest in Zimbabwe due to the political situation and previous investment laws. New government has changed all of that and Zimbabwe back on the map thanks to significant reform implemented”


Change is happening, Scott’s met with the president and they are open to foreign investment. Very happy to sit at these levels and accumulate