[REVISION HISTORY]

Invictus Energy exploration in Zimbabwe

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What changed

2026-10-27 13:55 UTC → 2026-11-06 11:32 UTC · added ~~removed~~

Invictus Energy is advancing its Cabora Bassa Basin project in northern Zimbabwe through preparations for the Musuma-1 exploration well. Following the completion of the well pad and necessary civil works, the company began relocating Exalo Rig 202 from the Mukuyu-2 site to the new location. 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~~ where high-resolution seismic profiling has identified Direct Hydrocarbon Indicators. Technical assessments ~~estimating~~ estimate prospective resources of 1.2 trillion cubic feet of natural gas and 73 million barrels of conventional gas condensate. As of November 2026, the company has moved into the installation and testing phase of equipment and personnel. The Musuma-1 well is expected to spud in November, aiming to test new exploration targets and potentially expand existing gas-condensate discoveries within the basin. To fund pre-drill activities, the Musuma-1 well, and general working capital, Invictus Energy is seeking shareholder approval to expand its equity-raising capacity by an additional 10% at its upcoming annual general ~~meeting.~~ meeting in Perth. This would increase its total capacity to issue equity securities to 25%.

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