Invictus Energy Ltd. renewed its SG 4571 license in Cabora Bassa basin, Zimbabwe, for another 3 years. The license contains the Mukuyu Discovery.
Geo Associates (Pvt) Ltd., Invictus’ 80% owned subsidiary, received notification from the Minister of Mines and Mining Development that the license has been extended to Dec. 19, 2027.
The company plans to undertake a comprehensive work program during the third 3-year license period including 3D seismic acquisition and additional exploration-appraisal drilling and testing. The company can apply for a special production grant license at any stage.
In March 2024, Invictus confirmed a gas-condensate discovery at the Mukuyu-2 side track well and, combined with results from Mukuyu-1, shows increasing liquid hydrocarbon content south of Mukuyu towards the Basin Margin and increasing dry gas contribution from the deeper kitchen and higher maturity source rock north of the Mukuyu structure (OGJ Online, Mar. 5, 2024).
Invictus is operator with 80% interest.
