”We have a very nice discovery on our hands.” Why the Future is so Bright for Invictus Energy

Junior Resource Investing

Discord: https://discord.gg/WbPaeEjWHD

Substack: https://juniorresourceinvesting.subst...

Interview Transcript: https://docs.google.com/document/d/1H...

Overview: Scott Macmillan stopped by for another live conversation built around investor questions. Invictus is currently drilling out the sidetrack on the M-2 well in search of an agonisingly-elusive fluid sample to confirm discovery and allow Invictus to declare net pay etc. While the road thus far has been rocky, the destination remains as bright as ever. Scott shares openly on challenges and lessons learned so far during exploration, the potential Invictus' land holds, and his vision for the future after what appears to be imminent, successful, discovery announcements. No one ever accused frontier wildcat drilling of being easy, but the potential for blue sky valuation remains as compelling as ever.

Time Stamps:

00:03:12 Discussion of Mukuyu-1 Data: When will it be released? What will be released? Concerns over useability of the swc?

00:10:22 Scott’s philosophy when it comes to news releases and public sharing of data and would he change anything in hindsight.

00:18:15 M-2 Data; Seismic – calibrated?; Logs acquired in M-2

00:24:00 Pressure data

00:27:30 Thermogenic vs. Biogenic and fluid contacts and source rocks

00:34:00 Can you determine salinity on-site? On-site testing in general.

41:54 M-2 Sidetrack Discussion

52:10 Borehole conditions, discussion around drilling into differently-pressured Lower Angua

54:00 M-2ST contingency plan

1:00:00 Steps taken to reduce tool wear and damage

1:07:15 Use of LWD in case of failure? Cased Hole Testing

1:10:00 Petrophysics Discussion (salinities, on-site analysis, etc)

1:19:45 Net pay numbers – when to expect, flow-testing M-2

1:24:00 Philosophy behind farmouts and JVs – when is the right time? Followed by data room discussion

1:34:00 Forward-looking plans, what does the medium and long term future look like

1:39:45 Near-term events: Completion of side track, 6” hole extension, flow testing etc. Rig retention, well planning

1:49:20 Financial situation, cost of their various potential steps, funding opportunities moving forward, bigger, multi-well, campaigns planned, bank financing etc

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