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Invictus is opening one of the last untested large frontier rift basins in onshore Africa - the Cabora Bassa Basin – in northern Zimbabwe. The first high impact well, Mukuyu-1, came back agonisingly close to a discovery announcement and the company is now preparing its next move in this highly prospective basin. MD Scott MacMillan is here today to hopefully shed some light on the recent past as well as the near future of Invictus.
And please join the s...
Time Stamps below.
Please like and subscribe!
Invictus is opening one of the last untested large frontier rift basins in onshore Africa - the Cabora Bassa Basin – in northern Zimbabwe. The first high impact well, Mukuyu-1, came back agonisingly close to a discovery announcement and the company is now preparing its next move in this highly prospective basin. MD Scott MacMillan is here today to hopefully shed some light on the recent past as well as the near future of Invictus.
And please join the sister investing community: Community Investment Server:
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02:30: New Board Member John Bentley
06:15: Sneak Peek at new board member 12:00: Scott recaps the drilling of Mukuyu-1
19:50: “I think we’ve got something here”
25:30: Background gas
33:00 “The Discovery Perspective… but we had to stop because it wasn’t working”
35:15: Price of the Rig
40:30: Lessons to take from M-1
41:30: Timelines
42:00: LWD tool 46:30: Budget costs for M-1/ST-1 and paying for failed services
47:20: Market Response (and discrepancy) “I think there has been a fundamental misunderstanding of what we found”
49:30: It’s not a geological issue, it is a tool issue”
49:45: Chance of Success
53:30: Net Pay from samples (samples in the lab)
59:40: Geologist Questions
61:00: Depositional Environment
63:00: Source Rocks
64:40: Upper Angwa as primary target 67:00: Oil Samples Found Within the Sidewall Core
70:10: Seal “We saw a lot of seal in this basin and very effective” “You don’t get these sort of opportunities very often to join a company in this sort of phase”
71:50: Next steps. Seismic vs. Spud “We’ve got a big portfolio of prospects and leads”
74:50: Why not twin a drill hole just for a fluid sample just to gain a discovery
75:50: Stepping out
76:30: Resource Estimate
80:50: Rainy season and surface conditions 82:50: Long lead items and how much they’re ordering
84:30: Rig Upgrades and Repairs
87:00: Warm-stacking the rig
88:30: Schedule for the next 0-12 months
90:00: Thought process behind the decision-making on the next move
95:00: Farm-in and JV Interest
97:30: “The hard part is knowing where we should be” “It is something that has been missed by the market, and mispriced”
102:00: Upper Angwa Reservoir Quality
105:50: Financing
113:40: Parting Thoughts
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