Zimbabwe gas explorer Invictus readies frontier well as cash falls to A$8 million

HARARE, Oct 30 (NewsDay Live) – Australia-listed Invictus Energy has moved a drilling rig to its Musuma-1 exploration well in northern Zimbabwe and is targeting a November spud, the company said on Friday, as its cash balance fell by more than a quarter over the three months to September 30.

The company, which is listed in Australia, the United States over-the-counter market and Zimbabwe, said Rig 202, owned by Exalo Drilling, was relocated from its Mukuyu-2 well site and the move was completed on October 29. The rig must still be rigged up and given a final acceptance check, and well-services equipment from SLB must be mobilised before drilling starts.

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