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    Richest African man building fourth cement plant in Nigeria

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    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

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    Global tech billionaires eye Zambia’s electric vehicle battery mines

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    Africa will have 57 million pay TV subscribers by 2028, report

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    Africa startups defy funding slump as debt financing fuels growth

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    Digital banking revolution can help SA banks regain their customers’ love, says BCG

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    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

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    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

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    There was a 25% increase in finance app installs across Africa between 2021 and 2022

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    Yellow Card expands payment feature across Africa

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    Government starts payment of $674,5M matured securities

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    South African rand steady with investor focus on Fed minutes

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Invictus Energy receives multiple farm-in bids for the Cabora Bassa Project onshore Zimbabwe

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29/04/2022
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Invictus Energy receives multiple farm-in bids for the Cabora Bassa Project onshore Zimbabwe
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Invictus Energy receives multiple farm-in bids for the Cabora Bassa Project onshore Zimbabwe

Invictus Energy announced it has received three farm-in offers for the Cabora Bassa Project onshore Zimbabwe, including an updated bid from Cluff Energy Africa. Ongoing due diligence and internal approvals are being undertaken by additional parties which may result in further bids being received.

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Invictus is also assessing the current bids and working to complete further due diligence requirements from counterparties including country visits, government approvals and completion of binding Farm Out and Joint Operating Agreements ahead of the upcoming two well drilling campaign. Shareholders will be updated when a preferred bidder(s) has been selected.

The company also announced that the Mukuyu-1 (formerly named Muzarabani-1) wellpad construction has commenced following the completion of the well site survey and award of the civil works and construction contract. The Mukuyu-1 well will test multiple stacked targets within the greater Mukuyu structure which is independently estimated to contain 8.2 Tcf + 247 million barrels of conventional gascondensate (gross mean unrisked).

Invictus Energy receives multiple farm-in bids for the Cabora Bassa Project onshore Zimbabwe

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