Trading of ‘Muzarabani’ Energy Invictus shares stopped

Image: ZTN

Trading of shares in Energy Invictus has been halted till 29 December 2022, on the company’s request, as it waits to announce oil/ gas exploration results.

The company has recently run ‘wireline logging’, a process meant to confirm if there are viable oil/gas deposits at the well site.

Invictus Energy is an independent upstream oil and gas company listed on the Australian Securities Exchange (ASX: IVZ) and the OTC Markets (OTCQB: IVCTF).

Its asset portfolio consists of a highly prospective licence, Special Grant 4571, in the Cabora Bassa Basin in Zimbabwe, one of the largest under-explored interior rift basins in Africa.

SG 4571 contains the world class Mukuyu conventional gas-condensate prospect, the largest undrilled prospect onshore Africa with an independently estimated 20 Tcf + 845 million barrels (~4.3 billion barrels of oil equivalent on a gross mean unrisked basis) of conventional gas-condensate in 8 stacked targets.

The Mukuyu-1 well is planned to commence drilling end August or early September 2022 with Exalo’s 202 Rig which is on location at the wellsite.

The Mukuyu-1 will test one of the largest prospects to be drilled globally in 2022.

Zwnews