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Invictus Energy Ltd (ASX:IVZ)

ALERT: Price-sensitive ASX Announcement for IVZ
Current share price for IVZ : $0.062 0.002 (3.33%)+
Announcement
Release
7 Aug 2026 9:27AM
Price at Release
$0.060
Full Release
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Summary
Invictus Energy Ltd has executed a Deed of Variation with Exalo Drilling S.A. for the use of Exalo Rig 202 to drill the high-impact Musuma-1 exploration well, scheduled to spud in November 2026 in the Cabora Bassa Basin, Zimbabwe. Rig maintenance activities are underway for a safe and efficient drilling operation. The company has substantially progressed in the procurement and mobilisation of well services, with wellpad construction beginning after cultural ceremonies. Musuma-1 targets a substantial gas and condensate resource and represents a major exploration opportunity outside the Mukuyu discovery area.
Key Points
  • Invictus Energy Ltd has executed a Deed of Variation with Exalo Drilling S.A. to use Exalo Rig 202 for the Musuma-1 exploration well.
  • The Musuma-1 well is scheduled to spud in November 2026.
  • Rig maintenance and operational readiness activities are underway to ensure safe and efficient drilling operations.
  • Procurement and mobilisation of well services are progressing, with contracts being prepared for award.
  • Construction of the Musuma-1 wellpad and associated civil works will start after completing cultural ceremonies with local communities.
  • The Musuma-1 well targets an estimated gross mean unrisked prospective resource of 1.2 Tcf of gas and 73 million barrels of condensate.
  • The Musuma-1 well represents a significant undrilled exploration opportunity in the Cabora Bassa Basin, Zimbabwe.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.