INVICTUS Energy has raised A$15 million, equivalent to US$10,2 million, through private placement to fund ongoing operations at its prospective area in the Cabora Bassa Basin, north of Zimbabwe, where it is exploring for oil and gas. A fortnight ago, the Australian-headquartered company made further gas discovery at its Mukuyu-2 exploration well in Mbire District,…
Invictus managing director Scott Macmillan welcomed the funds from institutional and sophisticated investors as they will assist ongoing operations at its Cabora Bassa project.
Funding will be utilized for a well test on natural gas discoveries in the Upper and Lower Angwa formations in Mukuyu-2 well, preparation for 3D seismic over the Mukuyu gas field and long lead items for a planned high impact exploration well from the company’s extensive portfolio in the Basin Margin or Central Fairway prospects.
Invictus managing director Scott Macmillan welcomed the funds from institutional and sophisticated investors as they will assist ongoing operations at its Cabora Bassa project.