Perth-based Invictus Energy has established the presence of a working petroleum system in Zimbabwe's Cabora Bassa basin with its Mukuyu-1 wildcat, which continues to drill ahead to total depth.
As a result, the junior player’s share price on the Australian Securities Exchange almost tripled from A$0.11 (US$0.07) at close of play yesterday – prior to this morning’s announcement - to A$0.28 at the end of trading today
The company reported that elevated gas shows were hit in the well’s primary objective – the Upper Angwa reservoir – with the probe now drilling ahead to its total depth of 3500 metres.
