Invictus Energy today provides an update on the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Further to the announcement on 22 December 2020, the nonbinding farm-in agreement has been terminated. Invictus was unable to satisfactorily complete the required transaction due diligence on the counterparty and the parties have ceased discussions. The Company continues to engage with additional interested parties.

The Company’s near term focus is completing the seismic acquisition program announced to the ASX on 25 June 2021, which is expected to conclude approximately at the end of Q3. The camp construction and the local recruitment campaign for 120 field crew is being finalised ahead of the imminent commencement of the program.

Cabora Bassa Project

The Cabora Bassa Project encompasses the Mzarabani Prospect, a multi-TCF and liquids rich conventional gascondensate target, which is potentially the largest, undrilled seismically defined structure onshore Africa. The prospect is defined by a robust dataset acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.

KeyFacts Energy: Invictus Energy Zimbabwe country profile