IVZ: Wireline Logging Update at Mukuyu-2
Invictus Energy (ASX: IVZ) expects the final results from Mukuyu-2 within the next 3-5 days.
Today, IVZ showed gas and liquid hydrocarbons “flowing through onboard compositional fluid analyser”.
At a very high level it's another sign that there is likely to be gas + oil/condensate in IVZ’s well.
While it's hard to say just how big the interval is from the data provided, the image below is a good sign IVZ might be close to declaring a discovery.
Of course we will have to wait for the sampling results to know whether or not that is the case.
The market would have been expecting a final results announcement based on past guidance by the company, but IVZ said that the sampling program was slightly delayed and that final results would come in the next 3-5 days.
Right now IVZ is here:
IF IVZ can get a sample up to surface then it should be enough for the company to declare a discovery officially.
So we continue to wait a few more days in the hope of seeing the D-word, some gross and net pay numbers and a photo of Scott holding a vial containing a hydrocarbon fluid sample they brought to the surface.
What a discovery could mean for IVZ:
We put out a detailed note on IVZ on Friday which touches on what a discovery could mean for IVZ.
Check out that note here: Just days away now… the IVZ result we have been waiting for
Shares and Options Holdings corrected on 11th November 2023.