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INVICTUS ENERGY LTD — Capital/Financing Update 2017
Dec 5, 2017
65149_rns_2017-12-05_6104a4ca-f4c1-43c5-9960-3ee5e1ecc272.pdf
Capital/Financing Update
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INTERPOSE HOLDINGS LIMITED
ASX ANNOUNCEMENT
December 6th, 2017
Greenberry No. 1 Well update # 3 (7.5% WI)
Interpose Limited (HIS:ASX) is pleased to advise that the Greenberry # 1 Well is currently drilling away at 8,330 feet as of Tuesday evening Australian time. The Greenberry well will test the possibility of a potentially productive section of the Pettit formation that lies across the prospect area between 8,000 and 9,000 feet depth. The well is targeting potential reserves of 5bcfg and 70,000 BO and is expected to take approximately 28 days to drill and test.
About the Gallatin project;
IHS acquired a 7.5% working interest with a 25% back in after payout to the project generator.
IHS dry hole cost estimated at USD$32,000.
Completion costs of USD$23,000 are estimated if a successful well.
IHS will earn a 7.5% Working Interest in 1,074 acres covering the project area AMI.
Net Revenue Interest of 75%.
The company will keep the market informed of progress and results from the Greenberry well as they come to hand.
For further information contact
Barnaby Egerton-Warburton Director
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618 9467 4220
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1 214 377 1396
Interpose Holdings Limited – ACN 150 956 773
50 Ord Street, West Perth, WA 6005