ZIMBABWE: Invictus Energy Receives Special Grant 4571 Licence for further 3 year term
Invictus Energy the operator of the 80% owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin containing Mukuyu Discovery reports he Minister of Mines and Mining Development has renewed its for further 3 year term.
The renewal, with the authorisation of the President, has, in terms of section 301 of the Mines and Minerals Act [Chapter 21:05] extends the tenure of SG 4571 licence to 19 December 2027.
The formal renewal was completed through the publishing of the notice in the Government Gazette
under General Notice 2113 of 2024.
The Company plans to undertake a comprehensive work program during the third three-year licence
period including 3D seismic acquisition and additional exploration/appraisal drilling and testing.
The Company is able to apply for a production special grant licence at any stage.