{"id":13657,"date":"2023-05-03T15:28:21","date_gmt":"2023-05-03T15:28:21","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13657"},"modified":"2023-05-03T15:47:53","modified_gmt":"2023-05-03T15:47:53","slug":"zimbabwe-invictus-energy-hopes-to-raise-up-to-a20m-to-fund-exploration-and-appraisal-work-in-cabora-bassa-basin","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-hopes-to-raise-up-to-a20m-to-fund-exploration-and-appraisal-work-in-cabora-bassa-basin\/","title":{"rendered":"ZIMBABWE: Invictus Energy Hopes to Raise up to A$20m to fund exploration and appraisal work in Cabora Bassa basin"},"content":{"rendered":"\n

Invictus Energy has launched a Share Purchase Plan and the shortfall offer to raise up to A$10m to fund exploration and appraisal work in Zimbabwe’s Cabora Bassa basin. Invictus had already raised $8,745,000 under the Placement and is also seeking shareholder approval at the General Meeting to raise a further 1,255,000 from the issue of additional Shares (and Options) to make the total raising under the Placement $10,000,000.<\/p>\n\n\n\n

According to the company dunds raised under the Placement and the SPP Offer, which could total up to
$20,000,000 are intended to be used in preparation for Mukuyu-2 Well (including long lead time items), 2D Seismic and processing of Eastern leads on trend with Mukuyu to drill ready targets and the Ngamo-Gwayi-Sikumi Project development.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Should the company fail to raise the funds it says the funds allocated to working capital will first be reduced, and then the Board will assess ways to reduce the up-front expenses of the Mukuyu-2 Well preparation and seismic activity to ensure that the Company can achieve its stated objective within the budget.<\/p>\n\n\n\n

The total expenses of the Placement and Offers are estimated to be approximately $400,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

Invictus Energy has launched a Share Purchase Plan and the shortfall offer to raise up to A$10m to fund exploration and appraisal work in Zimbabwe’s Cabora Bassa basin. Invictus had … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13659,"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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[26,9258,7812,11062,11232,2767],"class_list":["post-13657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-2d-seismic","tag-cabora-bassa-basin","tag-invictus-energy","tag-mukuyu-2-well","tag-ngamo-gwayi-sikumi-project","tag-zimbabwe","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3yh","jetpack-related-posts":[{"id":13556,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-10m-to-fund-mukuyu-2-well-preparations-phase-2-exploration\/","url_meta":{"origin":13657,"position":0},"title":"ZIMBABWE: Invictus Raises $10M to Fund Mukuyu-2 Well Preparations & Phase 2 Exploration","author":"","date":"April 12, 2023","format":false,"excerpt":"Invictus Energy has announced a private Placement to raise $10.0m, at $0.12 per share, following the Company\u2019s decision to advance preparations for an appraisal and exploration campaign in Zimbabwe\u2019s Cabora Bassa Basin. Comments from Managing Director Scott Macmillan:\u201cI am pleased with the backing Invictus has received from both existing and\u2026","rel":"","context":"In "Countries"","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\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13715,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-12-7-million-for-high-impact-exploration-appraisal-program\/","url_meta":{"origin":13657,"position":1},"title":"ZIMBABWE: Invictus Raises $12.7 million for High Impact Exploration & Appraisal Program","author":"","date":"June 1, 2023","format":false,"excerpt":"Invictus Energy has announced that its Share Purchase Plan (SPP) offer announced on 6 April 2023 has closed oversubscribed, with valid applications received from eligible shareholders amounting to$12.7 million. Due to the overwhelming support received by shareholders, the Board has exercised its discretion to increase the size of the SPP\u2026","rel":"","context":"In \"Cabora Bassa Basin\"","block_context":{"text":"Cabora Bassa Basin","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/cabora-bassa-basin\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/06\/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\/2023\/06\/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\/2023\/06\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&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":13657,"position":2},"title":"ZIMBABWE: Invictus Energy Provides Operational & 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 "Countries"","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":[]},{"id":13625,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-mukuyu-2-appraisal-and-phase-2-exploration-commences\/","url_meta":{"origin":13657,"position":3},"title":"ZIMBABWE: Mukuyu-2 Appraisal and Phase 2 Exploration Commences","author":"","date":"April 28, 2023","format":false,"excerpt":"During the quarter, Invictus commenced preparations for the Mukuyu-2 appraisal well andPhase 2 exploration campaign at its 80 per cent owned and operated Cabora Bassa project inZimbabwe.The tendering process commenced during the quarter for minor additional long leads and well services for the Mukuyu-2 well, which is anticipated to spud\u2026","rel":"","context":"In "Countries"","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\/04\/Zimbabwe-Cabora-Bassa.png?fit=479%2C663&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":13657,"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 "Countries"","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":13958,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-spuds-mukuyu-2\/","url_meta":{"origin":13657,"position":5},"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 "Countries"","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 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