STTCOMP IVZ FA LONG
Invictus Energy
1.2 billion shares
Market cap: $186m
I keep forgetting to tip this and nearly forgot again as we have a long weekend but the market is open because some of the country will be open tomorrow.
IVZ has started drilling the Mukuyu 2 well. Mukuyu 1 was effectively successful but because of tool failures, the company was unable to declare a discovery. They have just had a capital raising at 15c which resulted in the recent share price drop. The halt for the CR was just before spud and the raising announcement coincided with the spud announcement. Crazy timing!
So the reason for tipping is because it seems a good entry following the CR and they should have some results within the next 4 weeks which should get me my 25% if they are successful. The CEO described this well as "shooting fish in a barrel" so confidence levels are high but, of course, there are never any guarantees. Needless to say, the stock will end up in the toilet if unsuccessful, so it's one for the nimble.
IVZOA are the listed oppies for anyone interested. 20c exercise price so trading at quite a premium at the moment but the expiry is 7 June 2026, so nearly 3 years until expiry.
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STTCOMP IVZ FA LONGInvictus Energy1.2 billion sharesMarket cap:...
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