Prospective resource for the 'Basin Margin' prospect?

Our 2020 Energy Pick Of The Year Invictus Energy (ASX: IVZ) has commented on the official granting of exploration rights over the basin margin “string of pearls” play at its gas project in Zimbabwe.

One thing that has piqued our interest is IVZ working to put together a separate prospective resource update for its basin margin prospect.

At present, IVZ has a prospective resource of 20 trillion cubic feet + 845 million barrels of gas condensate, inside seven stacked targets at the Mukuyu prospect alone.

It has a gross unrisked prospective resource of 4.3 billion barrels of oil equivalent - all at a single prospect.

With a prospective resource being prepared for the basin margin, there is now a chance IVZ significantly increases its prospective resource beyond the already massive figure.

We expect this to be a short term share price catalyst as the size of the prize pre-drilling increases significantly.