Invictus Energy impresses investors with solid drilling results
Nick Sundich, November 14, 2022
Invictus Energy (ASX:IVZ) was one of this morning’s biggest gainers after its latest drilling update from its well in Zimbabwe’s Cabora Bassa Basin.
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
Invictus Energy reports gas shows 135x above background levels
The headline that excited Invictus Energy investors the most was that it had encountered multiple zones with fluorescence and elevated gas showing up to 135x above background levels in its primary target.
Invictus Energy has drilled 3,618mMD (meters measured depth) and has called the preliminary total depth. It will now conduct wireline logging and evaluation in the next week, which essentially means summarising what it has found and deciding whether or not the well has commercial viability.
What now for investors?
With a market cap of $289m, Invictus Energy is no penny stock. However, it has nearly tripled in the last week with today’s announcement and one last week that was similar to this morning’s – finding elevated gas showing 65x above background levels.
It is risky to get into a company that has surged so much in a short period of time. However, with the company raising $25m less than 3 months ago, dilution shouldn’t be a problem anytime soon.
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
No credit card needed and the trial expires automatically.
Blog Categories
Get Our Top 5 ASX Stocks for FY25
Recent Posts
Trump vs. Jerome Powell: What Happens to the Market If Powell Is Fired?
The relationship between President Donald Trump and Federal Reserve Chair Jerome Powell has often been tumultuous, particularly around decisions regarding…
Telix Pharmaceuticals (ASX:TLX): It’s made ~A$1.7bn in revenue from Illucix, but here’s why the best is yet to come!
What would you have thought if you were told 5 years ago you would see Telix Pharmaceuticals as a successful…
Anti Woke ETFs: Do they practice what they preach and have they outperformed since Trump’s return to power?
Have you ever heard of so-called ‘Anti Woke ETFs’? If you’re sick of companies that are big on ESG, this…