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Invictus managing director Scott Macmillan welcomed the funds from institutional and sophisticated investors as they will assist ongoing operations at its Cabora Bassa project.
The phase two exploration commenced with a 2D seismic programme, according to the resource outfit whose earlier explorations have so far picked good signs of light oil.
Invictus also revealed that early results of the CB21 Seismic Survey campaign resulted in the energy and gas company committing to a two well drilling programme.