- Invictus’ subsidiary Geo Associates Pvt Ltd has signed an agreement with Sovereign Wealth Fund of Zimbabwe for an assignment of exploration rights in the Cabora Bassa Basin.
- The company’s acreage will now cover the complete conventional oil and gas play fairway in the Cabora Bassa Basin.
- The Baobab prospect is selected to examine the newly identified Basin Margin play.
Invictus Energy Limited (ASX:IVZ), one of the leading players in the oil and gas exploration sector, announced that its 80%-owned subsidiary Geo Associates Pvt Ltd has entered into an assignment agreement with the Sovereign Wealth Fund of Zimbabwe (SWFZ) to expand its exploration footprint in the Cabora Bassa Basin. The agreement has been signed for the exploration rights of Exclusive Prospecting Orders (EPOs) 1848 and 1849.
Invictus Energy has been making inroads in its high-impact exploration program to open a large frontier rift basin onshore Africa – the Cabora Bassa project in Zimbabwe. The Cabora Bassa project is 80% owned and operated by Invictus Energy.