Well services contract signed, drilling targeted for July.

Investment Memo: IVZ 2022

Objective #4: Drilling of the Mukuyu-1 well

Invictus Energy (ASX: IVZ) has signed a well services contract with Baker Hughes - one of the world’s leading oilfield service providers, operating in more than 120 countries.

The contract covers most of the services required during drilling programs, from project management to more technical things like wellhead supply and installation.

IVZ also reaffirmed its anticipated spud date of July, with the drill rig expected to start mobilising on site in early June.

That means we should start to see images of the rig on site very soon.

The first well will be drilled on the Mukuyu prospect — the largest undrilled prospect in onshore Africa with an estimated prospective resource of 8.2 TcF and 247 million barrels of conventional gas condensate on a gross basis.