Invictus Energy announces A$10mn placement
Australia’s Invictus Energy on April 6 announced a private placement to raise A$10mn ($6.71mn), at A$0.12/share, following the company’s decision to advance preparations for an appraisal and exploration campaign in Zimbabwe’s Cabora Bassa basin.
Proceeds from the placement will be used to fund the preparations for the Mukuyu-2 appraisal well programme, phase 2 exploration campaign and 2D seismic and processing programme.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The 2D seismic acquisition programme is anticipated to commence in May, pending the award of the seismic contract, and will cover the eastern portion of EPO 1848 & 1849, the company said. The drilling of the first well in the Mukuyu appraisal programme, Mukuyu-2, is expected in the third quarter of 2023.
Invictus drilled its first well, Mukuyu-1, in Zimbabwe in September last year.