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Invictus Energy Limited ( (AU:IVZ) ) has shared an update.
Invictus Energy has completed the process for a Petroleum Production Sharing Agreement covering its Cabora Bassa Project in Zimbabwe, with formal execution expected in January, establishing a stable and internationally competitive legal and fiscal framework for petroleum operations in the country. This milestone clears the way for the company to advance its next phase of work in the Cabora Bassa Basin, including appraisal of the Mukuyu gas-condensate discoveries and drilling of the Musuma-1 exploration well, while also signalling the Zimbabwean government’s commitment to developing a nascent oil and gas industry seen as critical for national energy security and broader economic development.
More about Invictus Energy Limited
Invictus Energy Ltd is an independent oil and gas exploration company focused on high‑impact energy resources in sub-Saharan Africa. The company holds a 360,000-hectare acreage position in Zimbabwe’s Cabora Bassa Basin, including licence areas SG 4571 and EPOs 1848/49, which host the newly discovered Mukuyu gas field and multiple basin margin prospects.
Average Trading Volume: 3,693,187
Technical Sentiment Signal: Sell
Current Market Cap: A$160.3M
For an in-depth examination of IVZ stock, go to TipRanks’ Overview page.