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The company plans to undertake a comprehensive work programme. (Image source: Adobe Stock)

Invictus Energy Limited has provided an update on operations at its 80%-owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin

The SG 4571 Licence containing Mukuyu Discovery has been renewed for further three years. 

In March, priliminary composition analysis from the Mukuyu-2 well indicated the presence of high quality natural gas with minimal impurities. Since then, the company has been preparing for the next phase of its appraisal programme and work towards the monetisation of the Mukuyu gas discoveries. 

Comprehensive work programme

Geo Associates, the company’s 80%-owned subsidiary and holder of Special Grant 4571 has received notification that its application to extend the tenure of the SG 4571 licence for a further three years has been approved by the Mining Affairs Board. This will be followed by publication in the Government Gazette. The exploration licence for the third period for SG 4571 runs to June 2027. The company plans to undertake a comprehensive work programme for the third three-year exploration period including 3D seismic acquisition and additional exploration/appraisal drilling. The company is able to apply for a production special grant licence at any stage. 

Drilling at the Mukuyu-2 appraisal well in SG 4571 commenced on 20 September 2023