Harare: Zimbabwe 's mines minister on Monday said the discovery of oil, helium and hydrogen in the remote northeast would revive its ravaged economy. HARARE – Australia-listed Invictus Energy on Monday confirmed the presence of light oil, gas condensate and helium at its Cabora Bassa project in Zimbabwe, sending its shares up percent. The company said that mud gas analysis from the Mukuyu-1 well drilled last year had proved the presence of Zimbabwe’s oil find, is big news. It is big news for a number of reasons not least of which is the timing of its announcement. Notwithstanding the dispute of the size of the find and the stage Invictus declares oil find in Zimbabwe. The company found high API oil or condensate in the shallower Upper Angwa reservoirs. Deeper in the reservoir, the CGR Invictus is based in Perth and trades on the Australian Stock Exchange. The company has a local Zimbabwean partner, One Gas Resources, and local institutional shareholders including Mangwana [HOST] Paribas and Citicorp also have stakes, and Invictus plans to bring in an industrial partner to help with
Invictus Energy calls a halt to 'unfeasible' first …
Invictus Energy has reported that its Zimbabwe well found light oil, gas condensate – and even helium. The latter, it said, could provide an “additional high value by-product”. Managing (Bloomberg) – Australia’s Invictus Energy Ltd. discovered natural gas in northern Zimbabwe, almost three decades after Exxon Mobil Corp. mothballed its quest Invictus Energy Ltd. has begun Phase 2 exploration of its 80% owned and operated Cabora Bassa project in Zimbabwe via a 2D seismic acquisition program. The seis Invictus is using the Exalo rig to drill the well. “Mukuyu-1 is a world-class, basin opening well which, if successful, could be transformative for the company and Zimbabwe,” Macmillan said
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Invictus Energy commences second phase of oil, gas exploration | [HOST] 15th June Business. Spread This News. By Reason Razao. 21 hours ago · Invictus managing director, Scott MacMillan, said the impurities in the natural gas were less than 2 percent C02 (carbon dioxide), along with associated condensate, which is a form of light oil