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INVICTUS ENERGY LTD — Capital/Financing Update 2017
Nov 7, 2017
65149_rns_2017-11-07_c8f40283-e10f-407f-9958-ad687d586244.pdf
Capital/Financing Update
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INTERPOSE HOLDINGS LIMITED
ASX ANNOUNCEMENT
November 8[th] , 2017
Gallatin Gas-Condensate P roject U pdate (7.5% WI) Greenberry No. 1 Well
Interpose Holdings Ltd (“IHS" or the Company) is pleased to advise that it has been notified by the operator, FW Rabelais, that the second well at its’ Gallatin Texas project, the Greenberry # 1 Well will spud next week.
The Greenberry # 1 well will test the possibility of a potentially productive section of the Pettit formation that lies across the prospect area from 8,000 to 9,000 feet. 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 + 618 9467 4220 + 1 214 377 1396
About Interpose Holdings Ltd
To pursue low risk oil & gas projects and partner with reputable and proven oil & gas sector operators to build a portfolio or producing projects and at a reasonable entry and risk cost to the company’s shareholders.
Interpose Holdings Limited – ACN 150 956 773
50 Ord Street, West Perth, WA 6005