Invictus Energy Executes Deed of Variation for Zimbabwe Well Drilling; Shares Up 12%
MT Newswires Live
Aug 07
Invictus Energy (ASX:IVZ) executed a deed of variation to its drilling contract with Exalo Drilling for Exalo Rig 202 to drill the Musuma-1 exploration well at the Cabora Bassa project in Zimbabwe, according to a Friday filing with the Australian bourse.
The company confirmed that the well is slated to spud in November, with procurement of remaining well services in progress and contracts being prepared for award, the filing said.
Construction of the well pad and civil works will start after customary cultural ceremonies with traditional leaders and local communities are completed, per the filing.
Shares rose nearly 12% in morning trade Friday.
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