Invictus Energy impresses investors with solid drilling results

Nick Sundich 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

CFO

What does a CFO (Chief Financial Officer) do and how important are they?

Every ASX company has a Chief Financial Officer (CFO) in their C-suite. They are among the most important people in…

Clarity Pharmaceuticals

Clarity Pharmaceuticals (ASX:CU6) is off all time highs but is a $600m company! Is it the next Telix?

When we last wrote about Clarity Pharmaceuticals (ASX:CU6), in July last year, it was a multi-billion dollar company, less than…

Helios and MTM

MTM and Helios will Benefit as the US Hunts for Home-Grown Supplies of Critical Metals and Energy

The Middle East has once again become a hotbed of geopolitical tension, with the recent flare-up between Iran and Israel…