Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

ASX Ltd (ASX: ASX)

The ASX share price is down 1.5% to $58.85. This morning, analysts at Morgan Stanley retained their underweight rating and $54.05 price target on the stock exchange operator's shares. This implies potential downside of 8% from current levels. The broker believes there is risks to its cost growth, which it warns could weigh on its cash flow and put pressure on its dividends.

Charter Hall Group (ASX: CHC)

The Charter Hall share price is down 1% to $22.50. This also may have been driven by a bearish broker note. According to a note out of Macquarie, its analysts have reaffirmed its underperform rating on the property company's shares with an improved price target of $19.01. This suggests that downside of 15.5% is possible from current levels. The broker feels that its shares are overvalued and sees better opportunities for investors in the sector.

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is down 25% to 16.75 cents. This appears to have been driven by the release of an announcement after the market close on Wednesday. That announcement revealed that the energy explorer has delayed the settlement of a placement. In August, the company announced a strategic partnership with Al Mansour Holdings, backed by His Highness Sheikh Mansour bin Jabor bin Jassim Al Thani, a senior member of the Qatar royal family. Al Mansour Holdings agreed to acquire a strategic 19.9% equity stake in Invictus at a premium to the prevailing market price. The proposed issue is now expected on 1 December, delaying the funding of the near-term Cabora Bassa works program.

Ramelius Resources Ltd (ASX: RMS)

The Ramelius Resources share price is down 2.5% to $3.63. A number of ASX gold shares are trading lower today after the price of the precious metal pulled back overnight. This has seen the S&P/ASX All Ords Gold index fall 1.1% this afternoon. However, it is worth noting that the index remains up by over 80% since the start of the year. This has been driven by the gold price hitting record high after record high.

The post Why ASX, Charter Hall, Invictus Energy, Ramelius shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is up 7% to $10.30. Investors have been buying the KFC restaurant operator's shares following the release of a trading update ahead of its annual general meeting. Collins Foods revealed that for the first 18 weeks of FY 2026, total company sales were up 6.7% on prior corresponding period. This was driven by KFC same store sales growth in all markets. Commenting on its performance, Collins Foods' CEO, Xavier Simonet, said: "Collins Foods' positive same-store sales momentum which began in the second half of FY25, has continued into the early periods of FY26, with sales growth accelerating in all markets. […]  Improved sales, lifting labour productivity, reducing food wastage, disciplined cost management and deflation in some commodities are all contributing to margin expansion."

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is up 29% to 23.2 cents. This morning, this energy explorer announced that National Project Status (NPS) has been granted to its Cabora Bassa Project in Zimbabwe. It notes that NPS provides significant fiscal and non-fiscal benefits and incentives to assist advancing Cabora Bassa towards commercialisation. Invictus' managing director, Scott Macmillan, commented: "This recognition underscores the strategic importance of our discovery and the potential it holds to transform Zimbabwe's energy landscape."

NRW Holdings Limited (ASX: NWH)

The NRW Holdings share price is up almost 9% to $4.13. This follows news that the contract services provider has executed a binding agreement to acquire 100% of Fredon Industries for an enterprise value of up to $200 million, on a debt free cash free basis. Fredon has been around since 1968 and is a leading national provider of Electrical, Mechanical (HVAC), Infrastructure, Technology and Maintenance services (EMIT). Management notes that Fredon has clear visibility on FY 2026 forecast earnings and is expected to generate revenue of ~$840 million and EBIT of ~$40 million.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 8% to $1.42. This has been driven by an update on the impacts of proposed changes to U.S. Medicare Reimbursement for outpatient wound care. Polynovo's acting CEO, Dr Robyn Elliott, said: "The majority of PolyNovo's current business has to date been inpatient product application. Outpatient product application, the focus of the CMS proposed changes, is a significant potential growth area for PolyNovo's products. We are currently assessing the optimal commercial model for accessing this market opportunity."

The post Why Collins Foods, Invictus Energy, NRW, and Polynovo shares are storming higher appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 5.5% to 75.5 cents. This is despite there being no news out of the counter drone technology company this week. However, with its shares pulling back meaningfully from recent highs, it seems that some investors believe that a buying opportunity has been created. Bell Potter certainly thinks this is the case. Its analysts recently put a buy rating and $1.20 price target on DroneShield's shares.

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is up almost 7% to 8 cents. This morning, this independent upstream oil and gas company revealed that the second tranche of a US$10 million institutional placement at 10 cents per new share has been completed. And due to strong demand, the company also accepted an additional US$2 million in oversubscriptions on the same terms. Invictus Energy's managing director, Scott Macmillan, said: "The completion of this strategic capital raise is testament to the strong investor confidence in our Cabora Bassa Project and its potential to drive transformative growth in Zimbabwe's energy landscape. We are grateful for the enduring and overwhelming local and institutional support."

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up almost 10% to $3.18. This follows a huge gain by the biotechnology company's NASDAQ listed shares overnight. This appears to have been driven by excitement over the recent approval of one of the company's stem cell therapies. Last week, the US FDA approved its Ryoncil (remestemcel-L) product as the first mesenchymal stromal cell (MSC) therapy in the United States. Ryoncil is the only MSC therapy approved in the U.S. for any indication. It is also the only approved therapy for steroid-refractory acute graft versus host disease (SR-aGvHD) in children 2 months and older.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 4% to $3.60. This gain comes despite there being no news out of the semiconductor company. Though, it is worth noting that Weebit Nano's shares have been on a strong run recently. So much so, they have risen almost 90% since this time three months ago.

The post Why DroneShield, Invictus Energy, Mesoblast, Weebit Nano shares are rising today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is up 28% to 20.5 cents. This morning, this energy explorer announced a gas discovery in the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Perpetual Ltd (ASX: PPT)

The Perpetual share price is up 8.5% to $25.58. Investors have been buying this fund manager's shares after it received and rejected a takeover offer from Washington H Soul Pattinson & Company Ltd (ASX: SOL). The company revealed that the investment house tabled a $27.00 per share offer, which represents a total enterprise value of $3.53 billion. The Perpetual board believes the offer undervalues the company.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 2.5% to $1.56. This medical device company's shares have been pushing higher since yesterday's trading update. That update revealed that Polynovo delivered record sales of $8 million during November. This was driven by strong growth in both the United States and its Rest of World businesses.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 17% to 49.2 cents. This appears to have been driven by a broker note out of Citi. According to the note, the broker has retained its neutral (high risk) rating but lifted its price target by 11% to 51 cents. Citi has been impressed with the company's strong growth in the United States market.

The post Why Invictus Energy, Perpetual, Polynovo, and Zip shares are charging higher appeared first on The Motley Fool Australia.

As we head into the Thursday lunch hour the All Ordinaries Index (ASX: XAO) is down 0.16%.

But this ASX All Ords share is up 38% at 22 cents per share, with shares trading as high as 25.5 cents in earlier trade, representing an intraday gain of 59%.

Any guesses?

If you said Invictus Energy Ltd (ASX: IVZ), go to the head of the virtual class.

Here's what's spurring investor interest.

ASX All Ords share rockets on gas discovery

The Invictus share price is on fire today after the ASX All Ords share reported on a promising new gas discovery in the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project, located in Zimbabwe.

The company said it recovered four hydrocarbon samples to the surface from two separate zones in the Upper Angwa using the wireline formation testing tool. Two formation water samples were also recovered from the Basal Pebbly Arkose formation.

Invictus said this is the first Triassic-aged hydrocarbon discovery in Sub-Saharan Africa, offering "significant additional appraisal and exploration upside" within its project acreage.

Commenting on the discovery sending the ASX All Ords share soaring today, Invictus managing director Scott Macmillan said, "The discovery represents one of the most significant developments in the onshore Southern Africa oil and gas industry for decades."

Macmillan added:

The Mukuyu-2 discovery, 7km away and 450 meters updip of the Mukuyu-1 well, which can subsequently be classified as a discovery, provides confirmation of the large potential of the Mukuyu field which has a structural closure of over 200 square kilometres.

He said that with additional hydrocarbon-bearing reservoirs ahead, the ASX All Ords energy share would now focus on completing "the drilling and evaluation program and obtain further wireline data including fluid samples to declare an additional discovery from the Lower Angwa formation".

Invictus is holding an investor briefing today to discuss the preliminary results.

Stay tuned.

Invictus Energy share price snapshot

With today's big gains factored in, the ASX All Ords share is up 58% year to date.

The post Guess which ASX All Ords share just leapt 59% on a new gas discovery appeared first on The Motley Fool Australia.

In morning trade, the ASX All Ords share is up 11% to 24.5 cents.

This means that the energy explorer's shares are now up 58% in the space of a week.

Why is this ASX All Ords share on fire?

Investors have been buying the company's shares this morning after it released a drilling update from the Mukuyu-2 well at its 80%-owned and operated Cabora Bassa Project in Zimbabwe.

According to the release, strong gas shows and fluorescence were encountered in multiple additional Lower Angwa reservoirs to total depth.

In addition, it advised that high levels of trip gas were observed when drilling recommenced along with increasing levels of connection gas during drilling which necessitated raising the mud weight to maintain the required pressure overbalance in the borehole.

The ASX All Ords share's managing director, Scott Macmillan, commented:

We have had further encouraging signs from the Mukuyu-2 well since drilling recommenced with multiple additional zones encountering strong gas shows and fluorescence in the Lower Angwa formation.

Macmillan also revealed that the company hopes to soon be in a position to declare a discovery. He adds:

Mukuyu-2 has proved up over a 1,000m gross interval of hydrocarbon charge through the Upper and Lower Angwa formations across multiple reservoir zones. The planned comprehensive wireline logging programme including formation pressure and fluid sampling, sidewall cores and checkshot surveys will be run with the aim of confirming the presence of moveable hydrocarbons in multiple zones in the Upper and Lower Angwa formations to declare a discovery.

We anticipate completing the wireline logging program in the next 6 – 8 days depending on logging conditions and number of fluid sampling stations.

The post Up 58% in a week. Why is this ASX All Ords share exploding? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price has crashed 48% to 15 cents. Last week, the energy explorer revealed that its wireline formation testing tool got stuck during drilling operations at Mukuyu-1. And while it has now been retrieved, it was unable to provide any meaningful data due to damage. Management isn't confident it will ever be able to obtain a fluid sample and thus will conclude operations on Mukuyu-1 and ST1 and demobilise the well services equipment and personnel.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is down 8% to $5.87. Investors have been selling down the coal miners again today. They may have concerns that coal prices will not be as strong in 2023 and have been taking profit after some stellar gains last year.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 4% to $3.60. This is despite there being no news out of the lithium miner on Tuesday. However, it is worth noting that Tesla released its 2022 vehicle deliveries data overnight. Although the electric vehicle giant reported a 40% increase to 1.31 million, its fourth quarter deliveries fell a touch short of expectations. This may have sparked fears that lithium demand will soften.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 3.5% to $48.95. Investors have been selling tech shares during the market selloff on Tuesday. This has led to the S&P/ASX All Technology Index falling 1.9% this afternoon.

The post Why Invictus Energy, New Hope, Pilbara Minerals, and WiseTech shares are dropping appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is down 6.5% to 29 cents. Investors have been selling this energy exploration company's shares following the release of an update on drilling activities at the Mukuyu-1 well in Zimbabwe. Management revealed that its wireline logging operations have been hit by issues retrieving its cable. It has become lodged against the wellbore and multiple attempts to free the cable were unsuccessful.

Star Entertainment Group Ltd (ASX: SGR)

The Star share price is down over 2% to $1.79. This morning, Goldman Sachs retained its neutral rating but slashed its price target on the casino operator's shares by a massive 34% to $1.90. Goldman said: "The NSW government's proposed casino tax reforms pose a significant earnings risk for SGR's Sydney casino."

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 4.5% to $9.30. Investors have been selling Whitehaven Coal and other coal miners today despite there being no news out of them. However, the energy sector has come under pressure today amid concerns over demand from China.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 3.5% to $35.49. This has been driven by a pullback in oil prices overnight. This appears to have been driven by concerns over surging COVID-19 cases in China, which has offset optimism that easing restrictions could boost demand.

The post Why Invictus Energy, Star, Whitehaven Coal, and Woodside shares are dropping appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

AGL Energy Limited (ASX: AGL)

The AGL share price is up 2% to $8.04. Investors have been buying this energy company's shares despite there being no news out of it. They may be looking for safe havens given the share market's current volatility.

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is up 17% to 34.5 cents. Yesterday this energy explorer revealed that underwater drilling encountered fluorescence and elevated gas shows in multiple zones of the Upper Angwa primary target. Managing Director Scott Macmillan said: "We have had further encouraging signs from the Mukuyu-1 sidetrack well since drilling recommenced, with multiple zones encountering elevated gas shows and fluorescence in our Upper Angwa primary target proving relatively consistent with the original Mukuyu-1 well."

Maas Group Holdings Ltd (ASX: MGH)

The Maas share price is up 2% to $2.64. This is despite there being no news out of the construction materials, equipment and service provider. Though, it is worth highlighting that Goldman Sachs initiated coverage on the company this month with a buy rating and lofty $4.20 price target. This implies significant upside over the next 12 months.

Mach7 Technologies Ltd (ASX: M7T)

The Mach7 share price is up almost 2% to 57 cents. This morning, this medical imaging software solutions company announced a sales agreement with Nuvodia. The agreement is for Mach7's entire Enterprise Imaging Platform, which will provide a true enterprise wide PACS solution. The subscription contract has a five-year term and a total contract value of $2.5 million. Nuvodia is a US-based national IT and radiology service provider that creates, manages, and supports mission-critical IT environments.

The post Why AGL, Invictus Energy, Maas, and Mach7 shares are pushing higher today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 2% to $1.42. A number of lithium miners are trading lower on Thursday. This may be due to concerns over soaring COVID cases in China. Investors may fear that this could put pressure on short term battery materials demand and therefore lithium prices.

Invictus Energy Ltd (ASX: IVZ)

The Invictus Energy share price is down 14% to 27 cents. This morning this energy explorer released an update on drilling at the Mukuyu-1 well in Zimbabwe's Cabora Bassa Basin. Invictus Energy revealed that after reaching its target depth, a deterioration in borehole conditions meant its tools were unable to reach where the primary fluid sampling targets are located. As a result, the decision has been made to sidetrack the Mukuyu-1 well.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is down 7% to $5.52. Investors have been selling New Hope's shares following the release of its quarterly update. That update revealed a 167% increase in underlying EBITDA to $648.1 million. This was driven by record thermal coal prices. The result would have been stronger but for a 10.4% decline in production quarter on quarter.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price is down 2.5% to $4.64. This morning analysts at Macquarie downgraded the salary packaging company's shares to a neutral rating and slashed their price target to $4.75 following yesterday's guidance downgrade.

The post Why Core Lithium, Invictus Energy, New Hope, and Smartgroup shares are sinking appeared first on The Motley Fool Australia.

While there were plenty of positives in this morning's release from the upstream oil and gas company, the market appears to be hung up on one disappointing detail.

The Invictus Energy share price is currently trading for 26.5 cents, 15.87% lower than its previous close.

Let's take a closer look at the latest news from the $200 million energy stock.

What's going so wrong for this ASX energy stock?

The Invictus Energy share price is plummeting this morning after the company announced its 80%-owned Mukuyu-1 Well will need to be sidetracked for evaluations to be completed.

Though, there appears to be plenty of good news accompanying the bad in today's release. Managing director Scott Macmillan commented:

The existing Mukuyu-1 wellbore was successfully deepened to 3,923 metres measured depth and continued to encounter multiple reservoir units with elevated gas shows and fluorescence until total depth, proving up the potential of the Upper Angwa formation over a 900 metres gross interval.

Our primary Upper Angwa target formation is thicker than anticipated from pre-drill estimates, which bodes well for future prospectivity in the basin.

However, when total depth was reached, the company found deteriorating borehole conditions. That meant tools needed to run wireline logs were unable to pass low enough. Macmillan continues:

Current borehole conditions make logging the existing hole section extremely risky with an increased likelihood of losing tools and not meeting the objectives of the well.

Thus, the Mukuyu-1 well will be sidetracked for future testing. That means the company will drill a secondary wellbore away from the original. Sidetracking is often used to bypass an unusable section or explore a nearby geological feature.

The remaining activities will likely take an extra 12 to 18 days. The company expects to provide more information in the coming weeks.

Invictus Energy share price snapshot

Fortunately, today's fall hasn't driven the Invictus energy share price into the longer-term red.

The stock is still 104% higher than it was at the start of 2022. It has also lifted 96% since this time last year.

Comparatively, the benchmark All Ordinaries Index (ASX: XAO) has slipped 6% year to date. It's also slipped 4% over the last 12 months.

The post Why is the Invictus Energy share price crumbling 16% on Thursday? appeared first on The Motley Fool Australia.

The Tambourah Metals Ltd (ASX: TMB), BBX Minerals Ltd (ASX: BBX) and Invictus Energy Ltd (ASX: IVZ) share prices all exploded today.

Let's take a look at why these ASX shares had such a top run today.

Tambourah Metals

Tambourah Metals shares closed 29% higher today. However, in earlier trade, they soared by as much as 74%. The company discovered multiple pegmatites at the RJ 101 lithium project in Western Australia. Tambourah is also purchasing a new lithium and gold exploration project in Tambina.

Commenting on the news today, managing director Paul Araujo said:

We are planning to identify and field test newly recognised pegmatite swarms at several locations within this large project area.

Invictus Energy

Invictus Energy shares soared 40% today. This followed the company releasing positive news from the Mukuyu-1 well in the Zimbabwe Cabora Bassa Basin. The well reached 3,618 metres measured depth (mMD). Elevated mud gas peaks up to 135 times above background gas baseline were discovered during drilling.

Commenting on the news, managing director Scott Macmillan said:

We have had further encouraging signs from the Mukuyu-1 well since drilling recommenced with multiple zones encountering elevated gas shows and fluorescence in our Upper Angwa primary target. 

BBX Minerals

BBX Minerals shares closed 17% in the green today. However, shares soared 32% in the afternoon before pulling back. BBX reported results from bioleaching test work at the EcoBiome Metals facility in the United States.

Test results revealed a "significant increase" in reported precious metals following bioleaching. Follow-up testing will be conducted.

The post 3 tiny ASX shares that exploded over 30% on big news today appeared first on The Motley Fool Australia.

At the time of writing, the energy exploration company's shares are up 58% to 38 cents.

This means the Invictus Energy share price is now up almost 250% since last Wednesday.

Why is the Invictus Energy share price rocketing higher again?

Investors have been scrambling to buy shares again on Monday after the company released another promising update relating to the Mukuyu-1 well in Zimbabwe's Cabora Bassa Basin.

Last week, the company revealed that elevated mud gas peaks (up to 65 times above background gas baseline) were observed while drilling through a depth of 3,070 metres measured depth (mMD) with marked increases from C1 to C5 compounds (methane, ethane, propane, butanes and pentanes).

According to today's release, drilling activities have continued to a depth of 3,618 mMD. Pleasingly, multiple zones were encountered with fluorescence and elevated gas shows (up to 135 times above background levels) in the Upper Angwa primary target.

In light of this, a working conventional hydrocarbon system has been confirmed in Cabora Bassa Basin. Management is now preparing to run wireline logging tools to evaluate multiple zones of interest.

'Further encouraging signs'

Invictus Energy's managing director, Scott Macmillan, commented:

We have had further encouraging signs from the Mukuyu-1 well since drilling recommenced with multiple zones encountering elevated gas shows and fluorescence in our Upper Angwa primary target. The evidence of hydrocarbon charge throughout the Upper Angwa reservoir intervals provides further validation of our subsurface model and the presence of a conventional working hydrocarbon system in the Cabora Bassa Basin.

We have continued to observe elevated gas shows and fluorescence through multiple reservoir intervals in the Upper Angwa until TD [total depth] was called, and we will now acquire the necessary wireline data whilst the borehole conditions are still conducive in order to evaluate the zones of interest observed to date.

The post Invictus Energy share price rockets again, up almost 250% in under a week appeared first on The Motley Fool Australia.

On Thursday morning, the energy explorer's shares surged as much as 150% higher to 26.5 cents.

Why is this ASX energy share surging?

Investors have been bidding the Invictus Energy share price higher today following the release of an update on drilling activities at the Mukuyu-1 well in Zimbabwe's Cabora Bassa Basin.

According to the release, an 8.5 inch hole section has been drilled to a depth of 3,086 metres measured depth (mMD).

Pleasingly, elevated mud gas peaks (up to 65 times above background gas baseline) have been observed while drilling through a depth of 3,070 mMD with marked increases from C1 to C5 compounds (methane, ethane, propane, butanes and pentanes).

The company also advised that an initial 100% fluorescence was observed in a downhole cuttings sample of sandstone, retrieved from a depth of approximately 3,070 mMD. This indicates the presence of condensate or light oil when placed under an ultraviolet light.

In further good news, logging while drilling (LWD) analysis has identified further shallower zones of interest within the Upper Angwa, with elevated mud gas readings and LWD resistivity being observed.

Additional potential zones of interest in the Pebbly Arkose and Forest formations also display elevated LWD resistivity.

What's next?

Invictus Energy advised that all zones of interest will be comprehensively evaluated through a planned wireline logging programme. This will take place once Mukuyu-1 reaches total depth and will allow for the identification of any potential hydrocarbon pay.

Furthermore, a comprehensive wireline logging evaluation suite is planned to be acquired across the entire 8.5 inch hole section. This will provide detailed geological information in order to confirm the presence of moveable hydrocarbons.

All in all, Mukuyu-1 remains on track to be delivered in the previously guided timeframe.

Invictus Energy's managing director, Scott Macmillan, commented:

Early indications in our Upper Angwa primary target are highly encouraging and have proven a conventional working hydrocarbon system in the Cabora Bassa Basin, which is an exciting development validating our subsurface model.

The presence of elevated mud gas readings, fluorescence in the cuttings, elevated LWD resistivity and increasing background gas with depth is a positive sign as we progress through the Upper Angwa Alternations Member.

We still have several hundred metres of drilling through our primary targets with additional potential, which will be followed by a comprehensive wireline logging programme to evaluate results, with the aim of confirming the presence of moveable hydrocarbons in multiple zones.

The post Guess which ASX energy share is rocketing 150% on an 'exciting development' appeared first on The Motley Fool Australia.

Selling pressure has continued in today's session, with shares trading more than 2% down at the time of writing.

In broader market moves, the S&P/ASX 200 Energy Index (ASX: XEJ) has climbed around 160 basis points into the green today.

What's up with the Invictus Energy share price?

After the company entered a trading halt last week, it later confirmed a $12 million private placement to new and existing institutional and sophisticated investors.

The company issued around 60 million fully-paid ordinary shares at an issue price of 20 cents per share. At the time, that represented a 27.3% discount to Invictus' closing price of 24.5 cents on 18 May.

Those involved with the placement also received options giving the right to two Invictus shares at an exercise price of 35 cents.

Investors ran for the hills following the announcement and dumped their Invictus shares along the way seeing as the placement is set to dilute existing shareholders by a considerable amount.

Since the company release, trading volume of Invictus shares surged, albeit tilted towards the sell-side. Today's volume is also at 91% of the 4-week average of 6.3 million shares – roughly 1% of the company's entire float.

News Invictus had "executed a binding well services contract with Baker Hughes for its basin opening drilling campaign in the Muzarabani-Mbire area of Zimbabwe" wasn't enough to entice investors to jump back aboard the gravy train yesterday either.

The contract is scheduled to commence at the end of July 2022, Invictus says, however it appears to be a bittersweet note for those shareholders currently diluted to the tune of 60 million shares.

In the last 12 months, the Invictus Energy share price has soared well into the green having clipped a 33% gain in the time.

This year to date, the stock has shown its teeth even more but has reversed course sharply on more than two occasions following market-sensitive updates.

It now trades 30% below its former highs in May.

The post Why has the Invictus Energy share price dumped 29% this week? appeared first on The Motley Fool Australia.

At the time of writing, the oil and gas exploration company's shares are down 12% to 24.2 cents apiece.

Let's take a closer look and see what Invictus updated the ASX market with today.

Invictus completes $12 million placement

Investors are scrambling to sell Invictus shares after details of an impending share dilution from the company.

According to its statement, Invictus advised it has received firm commitments to raise $12 million through a private placement. The offer was presented to new and existing sophisticated and institutional investors.

Under the placement, Invictus will issue roughly 60 million fully-paid ordinary shares at an issue price of 20 cents apiece. This represents a 27.3% discount to the last closing price of 24.5 cents on 18 May.

In addition, placement participants will receive a free option on a one-for-two basis, at a strike price of 35 cents. These options will have a one-year expiry date.

The company will seek to have the options listed on ASX and approval for director participation. This will be held at the extraordinary general meeting (EGM) on 30 June.

The proceeds of the placement will be used towards Invictus' upcoming drilling campaign at the Cabora Bassa Project in Zimbabwe.

The company stated that the first well in the campaign will target the Mukuyu prospect, which has been independently estimated to contain 8.2 trillion cubic feet and 247 million barrels of conventional gas condensate.

Invictus managing director Scott Macmillan commented:

We are pleased to welcome new institutional investors onto our share register at an exciting time for the Company as we prepare to embark on our maiden drilling campaign in Zimbabwe.

Through the completion of this capital raise, in conjunction with our existing cash balance and additional funds delivered via the exercise of in-the-money options, the Company is well funded for the Mukuyu-1 well.

Drilling of the Mukuyu-1 well, which will test Africa's largest undrilled onshore oil and gas prospect, remains on track to commence in July.

Invictus share price summary

Regardless of today's decline, the Invictus share price has zipped almost 60% higher in the past 12 months.

Year to date, the company's shares are up 96%.

Invictus has a market capitalisation of approximately $165 million, with around 674.5 million shares on issue.

The post The Invictus share price just tanked 12%. Here's why appeared first on The Motley Fool Australia.

Within that time, the miner kept investors up-to-date with operations at its African gas exploration project — including a date for on-site drilling commencement.

At market close on Friday, the Invictus Energy share price was up 3.23% at 16 cents.

So what's been going on with this particular ASX 200 mining share? Let's dive straight in…

Cabora Bassa contract awarded

On Friday, the oil and gas company announced it had awarded an "integrated well services" contract for its 80% owned and operated site in Zimbabwe's Cabora Bassa Basin.

The contract went to Baker Hughes, which Invictus described as "one of the world's leading oilfield service providers, operating in more than 120 countries worldwide". The news appears to have been well received by investors, judging by the increase in the Invictus Energy share price.

The contractor will undertake tasks such as cementing, mud logging, and project management. It will work alongside Exalo Rig 202, which is also performing drilling work on the site.

With the first well "expected to spud" in the first half of this year, this contract puts Invictus "on track" to begin a 2-well drilling campaign by its intended deadline of May this year.

The Baker Hughes contract is expected to start within the next few weeks.

External contractors to assist site development

The miner has involved another external party, ERCE Equipoise, to digest and review the seismic data it collected late last year.

Managing director and CEO Scott Macmillan said the survey provided "greater insight into the subsurface and petroleum potential" of the site.

At the end of January, Invictus released its results for the December quarter. In it, the miner praised the recent share purchase plan (SPP) and capital raising for the Zimbabwe site. The Invictus Energy share price climbed 4.35% the following day.

Macmillan said the SPP allowed the company to "double its targeted raise" and would be used "to fund the rig mobilisation fee and long lead items".

The company is in a strong position and is now firmly focused on the execution of the planned May drilling campaign.

Invictus share price snapshot

Over the last 12 months, the Invictus share price has increased by 107%.

This time last year, shares were trading around 8 cents. They hit their highest price of 21 cents in April.

At the end of December, the ASX 200 mining share saw a 26% jump coinciding with its SPP.

The company has a market capitalisation of $102.31 million and over 660 million shares issued.

The post Why this ASX 200 mining share has jumped 33% in 2 weeks appeared first on The Motley Fool Australia.

At the time of writing, the oil and gas company's shares are swapping hands at 14.5 cents apiece, up 26.09%

The surge comes amid announcements of a proposed issuing of securities and a capital raising of $5.5 million.

Let's check the latest news from the company.

Cabora Bass capital raising

In its announcements today, Invictus said its capital raising will be to fund the development of its Cabora Bassa project in Zimbabwe.

The company says it has received investor commitments totalling $3.5 million before costs. Under its share placement scheme, Invictus will issue 35,000,000 new fully-paid ordinary shares at an issue price of 10 cents.

This represents a 13% discount on the company's last closing price on 22 December and a 14.1% discount on the 5-day volume-weighted average price prior to the trading halt.

In addition, the company announced an additional share purchase plan for another 20 million shares for "long-term and loyal shareholders" which will raise a further $2 million.

All eligible shareholders will be able to apply for up to $30,000 of new shares.

Invictus says it plans to put the funds towards the project's rig mobilisation fee, the purchase of "long lead items" for the planned 2-well drilling program, and the finalisation of data processing of its seismic survey.

The company is touting its Cabora Bassa project as "potentially the largest, undrilled seismically defined structure onshore Africa".

The drilling program is due to start in the first half of 2022.

Invictus Energy share price snapshot

The Invictus Energy share price has skyrocketed over the last twelve months, up 145%.

The company has a market capitalisation of more than $80 million with almost 600 million shares issued.

The post Why is the Invictus (ASX:IVZ) share price up 26% today? appeared first on The Motley Fool Australia.

Invictus shares jumped from the open following a company announcement on its 80% owned Cabora Bassa project in Zimbabwe.

The preliminary results from surveys conducted at the site are promising according to Invictus. So let's take a walk through and see what the release said.

What did Invictus Energy announce?

Following the completion of a seismic survey conducted at the Cabora Bassa site in early November. The company finalised the survey after collecting almost 840km of high resolution 2D data for processing.

Preliminary assessment by the geophysicists at seismic data specialist EarthSignal revealed encouraging results.

Petroleum giant ExxonMobil (NYSE: XOM) – just Mobil at the time – also uncovered a robust dataset in the 1990s at the site, per the company. Invictus is asking EarthSignal to reprocess this legacy data as well.

The announcement is likely a positive step forward for Invictus, as it claims the Cabora Bassa project is "potentially the largest, undrilled seismically defined structure onshore in Africa".

Specifically, the results suggest a "clearly defined Muzarabini anticline structure and clear fault definition and deep reflectors below 4 seconds".

Additional studies show amplitude anomalies in the shallower section of the Muzarabini structure and also up against the basin fault.

It is here where Invictus reckons it could find hydrocarbon bearing traps, as the amplitude anomalies described can often be indicative of the presence of hydrocarbons, it says.

What did management have to say?

Invictus' managing director, Scott Macmillan was also encouraged by the results and is keen to progress forward in starting the upcoming drilling program scheduled for the first half of 2022.

Speaking on the announcement, Macmillan said:

Importantly, the initial processing results of the seismic acquisition has produced high quality data revealing a variety of structural and stratigraphic features providing for a target rich environment for the upcoming drilling program. The early indications from the preliminary seismic processing are very encouraging and particularly the strong amplitude anomalies observed in the Muzarabani structure and along the basin margin fault.

Macmillan continued:

While we look forward to the final processed products and interpretation of the entire CB21 Survey which will also enable better characterisation of the primary Upper Angwa target in the Muzarabani prospect, these initial results are encouraging as we progress with the selection of optimal drilling locations for the upcoming drilling campaign scheduled for 1H 2022.

The Invictus Energy share price has delivered the goods in the past 12 months, and has soared over 138% in that time.

It has also climbed almost 178% this year to date, a galaxy ahead of the benchmark S&P/ASX 200 index (ASX: XJO)'s return of around 16% in the last year.

The post Seismic results send the Invictus Energy (ASX:IVZ) share price surging appeared first on The Motley Fool Australia.

Shares in the oil and gas explorer opened 7% higher at 15 cents after releasing an update to the market earlier today.

Let's take a look at what Invictus announced.

Invictus shares lift on Cabora Bassa update

Investors have pushed the Invictus Energy share price higher today after the company released an update on its Cabora Bassa Project.

The update informs Invictus shareholders that seismic data acquisition will commence in the first week of September.

The company noted that, in preparation, 400km of line has been cleared ahead of the commencement of data acquisition.

In addition, Invictus highlights that the latest generation STRYDE wireless nodes will be used.

This technology will allow the company to double the seismic data coverage.

The update also informs investors that the seismic data processing contract has been awarded to Canadian-based firm Earth Signal Processing Ltd.

Managing Director Scott Macmillan commented on the news driving the Invictus share price:

The Company is pleased to be commencing the seismic data acquisition in the coming days and the preparation for this campaign has gone well and all the equipment and personnel heading to the field. We are extremely pleased with the performance of Polaris and the local field crew who have completed 400km line clearing ahead the data acquisition which will ensure that the campaign is completed seamlessly.

The company's management also noted that preparation for its opening drilling campaign is progressing well. As a result, Invictus is on track to select a rig and service providers towards the end of this quarter.

Invictus share price snapshot

Invictus Energy is an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa.

The company's portfolio consists of 250,000 acres within the Cabora Bassa Basin in Zimbabwe.

The Invictus share price has had a stellar year thus far, storming ~170% since the start of 2021.

Shares in the oil and gas explorer bolted to record highs earlier this year and have tapered off since then.

At the time of writing, the Invictus share price is flat for the day. Shares in the company were trading more than 7% higher earlier, after hitting an intra-day high of 15 cents.

The post Here's why the Invictus (ASX:IVZ) share price opened 7% higher this morning appeared first on The Motley Fool Australia.