Upstream E&P company focused on oil and gas in Sub Saharan Africa and 80% owner, operator of the Cabora Bassa Project, Invictus Energy Limited (ASX:IVZ) seems to be gaining good investor traction mid-day at 11:51 AM AEST, soaring high by over 8% to $ 0.026 with 25k shares traded.
The Company is presenting at the Stockhead video conference “Oil & Gas – Buying the bounce”, highlighting details and development around SG 4571 exploration licence in the Cabora Bassa Basin in northern Zimbabwe, that contains Mzarabani Prospect, possibly the largest, seismically defined, undrilled structure onshore Africa. IVZ’s first mover advantage and giant scale potential has been identified within SG 4571.
IVZ updated that it is pursuing development of potential regional markets in addition to large local natural gas demand in Zimbabwe. Moreover, Farmout process to pick a partner to participate in high impact basin opening well is reportedly at advanced stage.
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