A time-delayed ignition system for a down-hole explosive tool such as a wireline cutter. The ignition system preferably includes: (a) a longitudinal housing; (b) means for supplying electrical current to the housing; (c) an electrical igniter located in the housing and operable to activate the down-hole tool by applying the electrical current to the igniter, and (d) means for delaying application of the current to the igniter until a predetermined period of time has elapsed. Preferably, the time-delay means are electronic and disposed within the housing.
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