Double Discovery Declared
Invictus Energy (ASX: IVZ) just declared a second discovery at its project in Zimbabwe.
34.9m of net pay across its Upper and Lower Angwa reservoir targets.
IVZ has now managed to confirm discoveries across two of its primary reservoir targets from its Mukuyu prospect.
At Mukuyu, IVZ has a ~4.3 billion barrel oil equivalent prospective resource.
A discovery at Mukuyu-2 means IVZ can declare Mukuyu-1 a discovery, meaning it already has a 7km step-out well, which will help with resource definition.
Ultimately, the two wells will form the basis for IVZ moving its prospective resource into the contingent resource/reserves category.
IVZ’s Managing Director Scott Macmillan will run through the results and next steps on a webinar later today at 11:00 AEDT.
After the webinar, we will put out a note detailing our key takeaways:
