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Long-time Zimbabwe-based oil and gas explorer Invictus Energy (ASX:IVZ), once a bona fide darling during the COVID-19 years of higher oil prices, has issued a halt ahead of a raise – causing some investors to baulk despite promises of a new strategic partnership.
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That partnership, or “alliance” in Invcitus’s own words, did prompt some interest. Because, as far as desktop research goes, it appears the Qatari Royal Family have recently turned their attention to Zimbabwe when it comes to prospective jurisdictions for hydrocarbon production.
Members of the ruling Qatari family have been visiting Victoria Falls in the last week, according to local media. But of more interest to shareholders – and exposing them to more risk – is another report from Tuesday morning coming from a Zimbabwe website of questionable reliability that alleges Invictus has indeed struck a deal with an entity during the Qatari visit.
If that report is true, then that means the latter hyperlinked article (assuming it’s correct) has offered information to investors before it’s disclosed on the ASX.
Still, while Mining Zimbabwe might be completely legitimate, it will be a brave soul who doesn’t wait for proper confirmation.
Then again, with Invictus shareholders now coming into their fifth year of waning patience – the company has repeatedly thrown around figures invoking prospective resources of trillions of cubic feet – this could be the most promising indication of positive forward motion in a good while.
Presumably, the Qatari royal family are not solely interested in Invictus, an Australian microcap, over a more wide-ranging push to invest across the jurisdiction broadly.
But at this point, Qatar, sure, why not?
IVZ, halted, last traded at 5.3cps.
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