Drilling now scheduled for July-August of this year

Published 24-MAY-2022 10:29 A.M.

46.2 seconds read

Investment Memo: IVZ 2022

Objective #4: Drilling of the Mukuyu-1 well

Yesterday our 2020 Energy Pick Of The Year Invictus Energy (ASX: IVZ) confirmed that its drilling program is now expected to be done either in July or August of this year.

Initially the company had put out guidance for a July drilling program but in yesterday’s announcement updated the market with a July-August date.

We suspect this has something to do with the company recently announcing an increase in the size of its project and all of the admin work that went into getting that deal finalised.

With farm-in discussions still ongoing we don't mind seeing minor delays but with some really strong macro tailwinds behind gas exploration globally, we want to see IVZ get that maiden drilling program done as quickly as possible this year.