Australia's Invictus Energy jumps on hiking gas estimate at Zimbabwe project

Invictus Energy

05/07/2022 02:17

** Shares of oil and gas company Invictus Energy  IVZ.AX 
rise as much as 28.6% to A$0.225, set for their best session
since Dec. 29, 2021
    ** IVZ now sees prospective 20 trillion cubic feet and 845
million barrels of conventional gas-condensate at Mukuyu-1
prospective resource in Zimbabwe  urn:newsml:reuters.com:*:nASXbc8RYp
    ** Mukuyu is part of the Cabora Bassa project, 80% of which
is owned by IVZ
    ** New estimate marks a 2.7 fold increase on barrel of oil
equivalent basis from the estimates in 2019  - IVZ
    ** Shares hit their highest level since May 25; on track for
a second straight day of gains
    ** More than 7.5 mln shares change hands, vs the 30-day
average of 4.3 mln shares
    ** Stock has risen 40% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))