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Invictus Energy (ASX:IVZ) is raising $25 million through a private placement to fund the drilling of the Mukuyu-1 and Baobab-1 wells in Zimbabwe’s Cabora Bassa Basin.
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Invictus' SG 4571 licence area will be amalgamated with the SWFZ’s MSC003 Cabora Bassa South Reserved Area to cover the entire Cabora Bassa Basin in Zimbabwe.
Invictus Energy has provided an update on the activities of its Cabora Bassa project in Zimbabwe. Data processing of the 2021 Cabora Bassa 2D Seismic Survey data is progressing on schedule and Invictus has now received all hydrocarbon Post-Stack Migrations of the CB21 survey data as well as the data from the reprocessing of US$30million legacy Mobil dataset.
Seismic feedback sharpens Invictus’ angle on historic Zimbabwe gas target