{"id":12620,"date":"2022-09-06T16:40:42","date_gmt":"2022-09-06T16:40:42","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12620"},"modified":"2022-09-06T16:40:42","modified_gmt":"2022-09-06T16:40:42","slug":"zimbabwe-invictus-raises-25-0m-to-fund-mukuyu-1-baobab-1-drilling-campaign","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-25-0m-to-fund-mukuyu-1-baobab-1-drilling-campaign\/","title":{"rendered":"Zimbabwe: Invictus Raises $25.0m to Fund Mukuyu-1 &#038; Baobab-1 Drilling Campaign"},"content":{"rendered":"<p><span dir=\"ltr\">Invictus<em> Energy<\/em>\u00a0has a<\/span><span dir=\"ltr\">nnounced a<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">p<\/span><span dir=\"ltr\">rivate\u00a0<\/span><span dir=\"ltr\">p<\/span><span dir=\"ltr\">lacement<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">to raise<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">$<\/span><span dir=\"ltr\">2<\/span><span dir=\"ltr\">5<\/span><span dir=\"ltr\">m<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">at $0.<\/span><span dir=\"ltr\">23<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">per shar<\/span><span dir=\"ltr\">e following the Company\u2019s decision to sole fund the\u00a0<\/span><span dir=\"ltr\">initial drilling campaign<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">in Zimbabw<\/span><span dir=\"ltr\">e<\/span><span dir=\"ltr\">\u2019s Cabora Bassa Basin.<\/span><\/p>\n<p><span dir=\"ltr\">Following the assessment of a range of options<\/span><span dir=\"ltr\">,<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">including farm<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">in<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">bids<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">from<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">multiple interested\u00a0<\/span><span dir=\"ltr\">parties<\/span><span dir=\"ltr\">,<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">Invictus<\/span><span dir=\"ltr\">\u2019<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">Board and Management<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">elected<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">to sole fund the<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">initial stages of the\u00a0<\/span><span dir=\"ltr\">Company\u2019s high<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">impact<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">drilling campaign<\/span><span dir=\"ltr\">, which will target the Mukuyu and Baobab (Basin\u00a0<\/span><span dir=\"ltr\">Margin) prospects.<\/span><\/p>\n<p><span dir=\"ltr\">This decision was made with<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">careful<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">consideration of<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">several<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">factors, including:<\/span><\/p>\n<ul>\n<li><span dir=\"ltr\">The significant<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">increase<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">in<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">the<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">prospectivity of the Caborra Bassa project<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">following the\u00a0<\/span><span dir=\"ltr\">gazettal of additional<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">exploration tenure<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">and<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">consequential<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">de<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">risking<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">of the campaign<\/span><\/li>\n<li><span dir=\"ltr\">Maintaining<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">a material ownership<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">of<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">the expanded<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">acreage<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">encompassing the new\u00a0<\/span><span dir=\"ltr\">Basin Margin play<\/span><span dir=\"ltr\">,<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">plus<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">additional prospects and leads<\/span><span dir=\"ltr\">,<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">providing shareholders with the\u00a0<\/span><span dir=\"ltr\">largest exposure to drilling success<\/span><\/li>\n<li><span dir=\"ltr\">Consideration of<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">sole<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">funding via the<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">C<\/span><span dir=\"ltr\">ompany<\/span><span dir=\"ltr\">\u2019s own equity capital in comparison to\u00a0<\/span><span dir=\"ltr\">the dilutive impact shareholders would absorb at the project level<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">via<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">any potential\u00a0<\/span><span dir=\"ltr\">farm<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">in<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">agreements<\/span><\/li>\n<li><span dir=\"ltr\">The avoidance of time delays and costs associated with<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">executing and<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">undertaking<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">a\u00a0<\/span><span dir=\"ltr\">(<\/span><span dir=\"ltr\">or multiple<\/span><span dir=\"ltr\">)<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">farm<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">in<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">partnership<\/span><span dir=\"ltr\">(<\/span><span dir=\"ltr\">s<\/span><span dir=\"ltr\">)<\/span><\/li>\n<\/ul>\n<p><span dir=\"ltr\">The Company<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">remains open to<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">strategic partnering<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">opportunities in the future<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">that could add\u00a0<\/span><span dir=\"ltr\">value for shareholders<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">as it continues to progress development of the Cabora Bassa project.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Invictus Energy\u00a0has announced a\u00a0private\u00a0placement\u00a0to raise\u00a0$25m\u00a0at $0.23\u00a0per share following the Company\u2019s decision to sole fund the\u00a0initial drilling campaign\u00a0in Zimbabwe\u2019s Cabora Bassa Basin. Following the assessment of a range of options,\u00a0including farm&#8211;in\u00a0bids\u00a0from\u00a0multiple &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-25-0m-to-fund-mukuyu-1-baobab-1-drilling-campaign\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7445,11],"tags":[10672,7808,10413,2767],"class_list":["post-12620","post","type-post","status-publish","format-standard","hentry","category-southern-africa","category-top-news","tag-baobab-1","tag-cabora-bassa","tag-mukuyu-1","tag-zimbabwe","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3hy","jetpack-related-posts":[{"id":12688,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-spuds-mukuyu-1-exploration-well-in-zimbabwe\/","url_meta":{"origin":12620,"position":0},"title":"ZIMBABWE: Invictus Energy Spuds Mukuyu-1 Exploration Well in Zimbabwe","author":"","date":"September 26, 2022","format":false,"excerpt":"Invictus Energy has announced commencement of drilling at the Mukuyu-1 exploration well in SG 4571 commenced on Friday 24 September local time. Drilling will commence from the installed conductor at 67m to a planned depth of ~650m in the 17\u00bd inch intermediate hole section. The Mukuyu-1 well is designed to\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/09\/Zimbabwe-Exalo-202-Rig-at-Mukuyu-1.png?fit=604%2C312&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/09\/Zimbabwe-Exalo-202-Rig-at-Mukuyu-1.png?fit=604%2C312&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/09\/Zimbabwe-Exalo-202-Rig-at-Mukuyu-1.png?fit=604%2C312&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13958,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-spuds-mukuyu-2\/","url_meta":{"origin":12620,"position":1},"title":"ZIMBABWE: Invictus Energy Spuds Mukuyu 2","author":"","date":"September 21, 2023","format":false,"excerpt":"Invictus Energy has announced the commencement of drilling of the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe.Comments from Managing Director Scott Macmillan: \u201cThis is an exciting and long-anticipated moment for Invictus and our shareholders, and the commencement of our second drilling campaign is a\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Zimbabwe-Mukuyu-2-trajectory.png?fit=613%2C496&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Zimbabwe-Mukuyu-2-trajectory.png?fit=613%2C496&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Zimbabwe-Mukuyu-2-trajectory.png?fit=613%2C496&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12572,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-expands-cabora-bassa-exploration-licence-footprint\/","url_meta":{"origin":12620,"position":2},"title":"ZIMBABWE: Invictus Expands Cabora Bassa Exploration Licence Footprint","author":"","date":"August 17, 2022","format":false,"excerpt":"Assignment of exploration rights to EPO 1848 and EPO 1849 by Sovereign Wealth Fund of Zimbabwe Invictus\u2019 80% owned subsidiary Geo Associates (Pvt) Ltd and the Sovereign Wealth Fund of Zimbabwe have executed an assignment agreement for the exploration rights to Exclusive Prospecting Orders (EPOs) 1848 and 1849. EPOs 1848\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12324,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-commences-rig-mobilization-to-cabora-bassa\/","url_meta":{"origin":12620,"position":3},"title":"ZIMBABWE: Invictus Energy Commences Rig Mobilization to Cabora Bassa","author":"","date":"June 8, 2022","format":false,"excerpt":"Invictus Energy has confirmed that following the completion of clearing procedures and documentation, the Exalo Rig 202 has commenced mobilization from Songo Songo Island in Tanzania to Cabora Bassa. The rig and associated equipment will arrive over the course of June and commence rig up to drill the first of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Exalo-202-Rig-Mobilization.png?fit=485%2C643&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14502,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-multi-tcf-prospectivity-identified-in-eastern-cabora-bassa\/","url_meta":{"origin":12620,"position":4},"title":"ZIMBABWE: Multi Tcf prospectivity identified in Eastern Cabora Bassa","author":"","date":"September 3, 2024","format":false,"excerpt":"Invictus Energy Limited has provided an update on activities at its 80% owned and operated Cabora Bassa Project in Zimbabwe.Following the completion of the interpretation of the CB23 Seismic Survey data and a review of prospectivity in the eastern Cabora Bassa basin, eight key prospects have been defined in the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/ZIMBABWE-CENTRAL-FAIRWAY.png?fit=610%2C243&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/ZIMBABWE-CENTRAL-FAIRWAY.png?fit=610%2C243&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/ZIMBABWE-CENTRAL-FAIRWAY.png?fit=610%2C243&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14643,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-provides-operational-corporate-update\/","url_meta":{"origin":12620,"position":5},"title":"ZIMBABWE: Invictus Energy Provides Operational &amp; Corporate Update","author":"","date":"January 22, 2025","format":false,"excerpt":"OPERATIONAL UPDATEPetroleum Production Sharing Agreement (PPSA)During the quarter,Invictus reports that a final independent review of the Petroleum Production Sharing Agreement (PPSA) was completed by external European legal counsel, marking a significant milestone in the development of the Company\u2019s exploration and production activities. The PPSA is designed to ensure equitable sharing\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Zimbabwe-Cabora-Bassa.png?fit=479%2C663&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12620"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12620\/revisions"}],"predecessor-version":[{"id":12627,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12620\/revisions\/12627"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}