Why is Invuctus Energy in a Trading Halt?
Invictus Energy Ltd
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Why is Invuctus Energy in a Trading Halt?

Invictus Energy Ltd (ASX: IVZ; OTC: IVCTF), an independent oil and gas exploration company with a strong focus on high-impact energy resources in sub-Saharan Africa, has made an official request for a trading halt for its securities (IVZ & IVZOA). This request, made in accordance with Listing Rule 17. 1, comes as the company prepares to release crucial updates regarding its Mukuyu-2 Side Track well.

About Invictus Energy

Invictus Energy Ltd, with a dedicated asset portfolio spanning 360,000 hectares, has established itself as a prominent player in the energy exploration sector. Their primary focus lies within the Cabora Bassa Basin, located in Zimbabwe, which is known for its high prospectivity. Notable assets within the portfolio include SG 4571 and EPOs 1848/49, housing the Mukuyu discovery and several Basin Margin prospects.

The Trading Halt Request

Invictus Energy Ltd has officially requested a trading halt for its securities, IVZ & IVZOA, in accordance with Listing Rule 17.

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1. The reason behind this halt is to allow the company to prepare and release crucial updates related to the Mukuyu-2 Side Track well.

Anticipated Update

The company has indicated that it will provide an update specifically concerning the final wireline logging and fluid sampling results from the Mukuyu-2 Side Track well. This information is expected to be disseminated to the market on or before the commencement of trading on 15 December 2023.

No Known Reasons to Deny the Trading Halt

Invictus Energy Ltd has made it clear that there are no known reasons or circumstances that should deter the granting of the trading halt. This suggests that the company's management is confident in the importance and significance of the forthcoming update and wishes to ensure that investors and stakeholders have equal access to this material information.

The request for a trading halt by Invictus Energy Ltd signifies the significance of the upcoming update related to the Mukuyu-2 Side Track well. As the company operates in the dynamic and impactful field of energy exploration, such updates can have a substantial impact on market sentiment and the company's future trajectory. Investors and market watchers will be eagerly anticipating the release of this crucial information and its potential implications for Invictus Energy's operations and prospects in the sub-Saharan African energy sector.

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