{"id":9279,"date":"2020-10-13T00:14:52","date_gmt":"2020-10-13T00:14:52","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=9279"},"modified":"2020-10-13T00:14:52","modified_gmt":"2020-10-13T00:14:52","slug":"invictus-to-commence-field-operations-complete-further-placement-to-strategic-investor","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/invictus-to-commence-field-operations-complete-further-placement-to-strategic-investor\/","title":{"rendered":"Invictus to Commence Field Operations, Complete Further Placement to Strategic Investor"},"content":{"rendered":"<p>Invictus Energy has announced that it is set to commence a field reconnaissance program in the next fortnight and has completed a further placement for the equivalent of AUD$220k at a share price of $0.066 with the Mangwana Opportunities Fund under a second tranche of the equity funding agreement as announced on 30 April 2020.<\/p>\n<p>Commencement of field operations in the Cabora Bassa Project Following the approval of the Environmental Management Plan, easing of COVID-19 related restrictions and the completion of the final cultural ceremonies in the Muzarabani and Mbire Districts, the Company will commence field operations in the Cabora Bassa Basin.<\/p>\n<p>The reconnaissance program and baseline survey consist of the traversing of the proposed infill seismic lines for a planned acquisition campaign in the 2021 dry season.<\/p>\n<p>The program will capture details such as topography, existing access roads, drainage, vegetation cover, soil types, rock exposures, sampling of any natural oil and gas seeps, areas of development (constructions and cultivation), plus any sites of cultural, religious or historic importance.<\/p>\n<p>The duration of the program is expected to be approximately 30 days and is in the final stages of planning and will be completed before the wet season.<\/p>\n<p>Managing Director Scott Macmillan commented: \u201cWe are extremely pleased to commence our activity on the ground in the Cabora Bassa Project having now received all of the necessary approvals and restrictions in the country being eased. The Company has a window of opportunity to carry out a reconnaissance program prior to the onset of the rainy season so that we can map out the routes for the planned seismic acquisition campaign next year. This exercise will enable us to map out the optimal route ahead of the survey which will reduce the acquisition time and maximise efficiency of the survey.<\/p>\n<p>The Company is also pleased to have completed a second tranche of funding from the Mangwana Opportunities Fund at a premium of 10% to the previous closing share price. The funds will be used for the upcoming field program and general working capital.\u201d<\/p>\n<p><strong>Completion of Placement with Mangwana Opportunities Fund <\/strong><\/p>\n<p>The Company has completed a further placement (Second Tranche) under the share subscription agreement announced on 30th April 2020. The placement raises the equivalent of $AUD 222,148 through the placement of 3,404,186 shares at a share price of $0.066; a 9% premium to the last closing price. The shares issued to Mangwana will be held in escrow for 6 months from the date of completion. The agreement makes provision for a further equity investment by Mangwana for the project over the next 12-24 months as well as assisting the Company in achieving its strategic goals in country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Invictus Energy has announced that it is set to commence a field reconnaissance program in the next fortnight and has completed a further placement for the equivalent of AUD$220k at &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/invictus-to-commence-field-operations-complete-further-placement-to-strategic-investor\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8566,"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":[7442,7445,11],"tags":[8081,6660,7812,8558,2767],"class_list":["post-9279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-cabora-bassa-project","tag-infill-seismic","tag-invictus-energy","tag-mangwana-opportunities-fund","tag-zimbabwe","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2pF","jetpack-related-posts":[{"id":8565,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-completes-placement-for-the-cabora-bassa-project\/","url_meta":{"origin":9279,"position":0},"title":"ZIMBABWE: Invictus Energy Completes Placement for the Cabora Bassa project","author":"","date":"July 13, 2020","format":false,"excerpt":"Invictus Energy Limited has announced that the Company has completed the placement for an equivalent AUD$0.44 million with the Mangwana Opportunities Fund as announced on 30 April 2020 following approval received from the Reserve Bank of Zimbabwe Exchange Control authority. Mangwana Opportunities Fund is an investor owned, closed end investment\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\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11696,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-funding-completed-for-rig-mobilisation-in-cabora-bassa-basin\/","url_meta":{"origin":9279,"position":1},"title":"ZIMBABWE: Funding Completed for Rig Mobilisation in Cabora Bassa Basin","author":"","date":"January 25, 2022","format":false,"excerpt":"HIGHLIGHTS \u2022 Placement and SPP funding raises $8m \u2022 $4m SPP oversubscribed and has closed \u2022 2-well drilling program planned for May 2022, with proceeds to be used to fund the mobilization of the Exalo #202 drilling rig and long lead items \u2022 Muzarabani-1 well targeting prospective resources of 8.2\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\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9935,"url":"https:\/\/www.oilnewskenya.com\/index.php\/invictus-tatanga-energy-sign-gas-sales-mou-for-500mw-gas-to-power-project\/","url_meta":{"origin":9279,"position":2},"title":"Invictus &#038; Tatanga Energy Sign Gas Sales MOU for 500MW Gas to Power Project","author":"","date":"February 18, 2021","format":false,"excerpt":"Non-binding offer for farm-in to the Cabora Bassa Project During the quarter, the Company received a non-binding offer for farm-in to the Cabora Bassa Project. The proposed transaction is subject to completion of further technical, legal and commercial due diligence by both parties, approvals and agreements by requisite government authorities\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\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9549,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-to-commence-field-operations-completion-of-placement-with-strategic-investor\/","url_meta":{"origin":9279,"position":3},"title":"ZIMBABWE: Invictus to Commence Field Operations &#038; Completion of Placement with Strategic Investor","author":"","date":"December 14, 2020","format":false,"excerpt":"Seismic Acquisition & Drilling Plan Advancing The Company successfully concluded its recent field operations and reconnaissance program in the Cabora Basa Basin. Detailed traversing and mapping across the area has been completed and identified the optimal acquisition routes. The Company is making significant progress on executing the first seismic acquisition\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\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14604,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-reports-strategic-capital-raise-tranche-2-oversubscription\/","url_meta":{"origin":9279,"position":4},"title":"ZIMBABWE: Invictus Energy Reports Strategic Capital Raise Tranche 2 Oversubscription","author":"","date":"January 1, 2025","format":false,"excerpt":"Invictus Energy announces that following shareholder approval at the Extraordinary General Meeting held on 21 October 2024, the second tranche of the US$10 million Institutional Placement managed by Mangwana Capital (Private) Limited as announced to the ASX on 29 July 2024 has been completed.Due to strong demand, the Company also\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":[]},{"id":8756,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-receives-license-renewal-for-the-cabora-bassa-project\/","url_meta":{"origin":9279,"position":5},"title":"ZIMBABWE: Invictus Energy Receives License Renewal for the Cabora Bassa Project","author":"","date":"August 5, 2020","format":false,"excerpt":"Invictus Energy has received approval of its application to renew the investment licence from the Zimbabwe Investment and Development Authority (ZIDA). ZIDA is the investment promotion body set up to promote and facilitate both foreign direct investment and local investment in Zimbabwe. The investment licence provides formal recognition of 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\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9279","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=9279"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9279\/revisions"}],"predecessor-version":[{"id":9280,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9279\/revisions\/9280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8566"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}