Invictus Energy prepares Musuma-1 drilling in Zimbabwe

Invictus Energy has begun relocating drilling infrastructure to the Musuma-1 wellsite in Zimbabwe’s Cabora Bassa Basin. The company is moving the Exalo Rig 202 from the Mukuyu-2 site to prepare for a high-impact exploration well scheduled for next month.

The Musuma-1 vertical well is located approximately 100 kilometres east of the initial Mukuyu gas discovery zones. It targets the shallow Dande Formation reservoir, with technical assessments estimating a prospective resource of 1.2 trillion cubic feet of natural gas and 73 million barrels of conventional gas condensate. High-resolution seismic profiling has identified Direct Hydrocarbon Indicators at the site.

To support these operations, Invictus Energy is seeking shareholder approval to expand its equity-raising capacity. At its upcoming annual general meeting in Perth, the company will propose an additional 10% share placement facility, which would increase its total capacity to issue equity securities to 25%. The funds are intended to finance pre-drill activities, the Musuma-1 well, and general working capital.