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Invictus inks licence deal with Zimbabwe
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Bourse quizzes Invictus over shares spike
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Zimbabwe: Invictus receives non-binding offer for farm-in to the Cabora Bassa Project
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Invictus Commends Conducive Environment
INVICTUS Energy, the Australia Stock Exchange (ASX) listed company exploring for oil and gas in Zimbabwe, has commended the Government for creating a conducive environment that promotes investment.
This comes after the company received a non-binding offer for farm-in to the Cabora Bassa (Muzarabani) oil and gas Project and had approvals for gas exploration, development and production endorsed.
The proposed farm-in offer is subject to completion of further technical, legal and commercial due diligence by both parties, approvals and agreements by relevant Government authorities and execution of binding Farm Out Agreement(s).
Invictus Energy and its partners are also working on a Petroleum Product Sharing Agreement (PPSA), which contains the fiscal provisions of the project, including the Government’s profit/product share, which takes effect following the commencement of the production phase of the project.