Reality starting to kick into Market ?FOMO or.....Next...

Reality starting to kick into Market ?

FOMO or.....

Next Investor's Take :

Invictus Energy (ASX: IVZ) is the biggest pre-result exploration bet we have in our Portfolio right now.

IVZ is drilling the largest conventional onshore prospect in Africa, with a prospective resource that now sits at >5.5 billion barrels of oil equivalent across a number of targets.

IVZ is drilling two wells in the coming months to test this prospectivity - and the first well is being drilled right now.

Eleven years in the making, and two years since we first Invested, IVZ’s long awaited drilling of its first well started 13 days ago, and is expected to take 50 to 60 days to reach target depth.

As of yesterday, IVZ was 593m into its planned 3,500m well depth, meaning it is potentially days away from piercing the first of the seven targets.

Today, IVZ upgraded its prospective resource, adding an extra 1.2 billion barrels of oil equivalent across its basin margin targets (a “String of Pearls” play), the first of which it will drill after the current well - giving IVZ a “second chance” on a string of basin margin targets if this first well doesn’t come in.

Importantly, these target areas are separate from one another, meaning IVZ gets two shots at making a basin opening discovery. We are holding 4,987,102 IVZ shares and 1,217,101 IVZ options - a very large position for us (relative to our Portfolio size) to be holding into an oil & gas exploration resultmotions out of our investing).

This larger position is due to our success 10 years ago investing in a similar basin opening drill in the East African Rift System with Africa Oil Corp.

If we are being intellectually honest with ourselves, the success with Africa Oil Corp has probably inflated our risk appetite in the hope it might repeat with IVZ

(yes, while we try not to, we also sometimes find it hard to keep emotions out of our investing).

and what we are watching for IVZ to announce over the next few weeks based on what caused Africa Oil’s share price to rise.

Here is our detailed summary of the similarities we see between IVZ and Africa Oil Corp,

https://0s3consortium.cmail20.com/t/d-l-zldlkz-itilkhikhy-y/

Remember that the past performance of one stock is not an indicator of future performance of another stock. Yes there are similarities - but IVZ making its own material discovery is the only critical event that matters here.....

GL - Oilf.