Australia's Invictus Energy jumps on positive drilling results from Zimbabwe project

Invictus Energy

20/10/2023 01:54

** Shares of Invictus Energy Ltd  IVZ.AX  rise as much as
10.3% to A$0.16, set for best day since Aug. 17 if gains hold
    ** Oil and gas explorer says it has seen positive signs from
drilling at Mukuyu-2 well at Cabora Bassa Project in Zimbabwe
    ** Says elevated mud gas readings, up to 70 times above
background levels, encountered in Upper Angwa primary target
reservoirs
    ** Says higher total background gas observed in Mukuyu-2
along with heavier hydrocarbons in mud gas increasing with depth
    ** Stock down 50% YTD, based on last close

 (Reporting by Aaditya Govind Rao)
 ((Aaditya.GovindRao@thomsonreuters.com;))