Mr. Gordon Reese reports
INVICTA ENERGY COMMENCES 9 GROSS (4.8) NET WELL DRILLING PROGRAM
Invicta Energy Corp. has commenced the third quarter/fourth quarter drilling program of nine gross (4.8 net) wells
at Kindersley, Sask. (Lucky Hills). These wells will complete
the planned 2012 drilling program of 20 gross (11 net) wells. Current
field production is 325 to 350 barrels per day of light oil with total corporate
production at 400 barrels of oil equivalent per day. Upon completion of the third quarter/fourth quarter drilling program, the
company's exit production is estimated to be 625 to 675 barrels of oil equivalent per day (80 per cent light
oil).
Invicta is positioned for growth with top-quartile operating netbacks
and a drilling inventory in excess of 200 development locations on its
low-risk light oil resource play at Kindersley. The company continues
to work on a number of light oil prospects in central Alberta on its
49,587 gross acres (47,753 net acres), and looks forward to drilling and
developing its next core area in 2013.
An updated corporate presentation is available on the Invicta website.
We seek Safe Harbor.
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