“It’s been a long time, for me, it’s been 12 years in the making from the first time we looked at the acreage,” managing director Scott Macmillan explained to Energy Voice. “We had a couple of difficulties at Mukuyu-2 but we finally got there.”
Appetite for exploration is back, Macmillan said. But for those wanting to explore, the potential find has to be big enough to materially add value to a prospect.
“I look forward to building on this success as the Company prepares for further appraisal at Mukuyu, while it holds a portfolio of exciting exploration prospects and leads, which have been significantly de-risked through the recent drilling campaign.”
The company’s work has reduced risk on trap, source and seal, it said. Reservoir remains a moderate risk, it said, while the “lateral extent and continuity of reservoir sands is still unknown”.
Despite positive drilling results in Zimbabwe, Invictus Energy ran into headwinds at its AGM, with shareholders opposing a number of resolutions and chairman Stuart Lake opting to leave.
Reconnaissance Energy Africa and Invictus Energy are both nearing drilling, as they seek to prove up onshore hopes around Namibia and Zimbabwe respectively.
Invictus Energy expects to start drilling its major Zimbabwean prospect by July, bringing the long-awaited dream of founder and managing director Scott Macmillan to the test.
Invictus Energy has secured long-lead items for its planned two-well programme and launched a capital raising programme, as it targets drilling in the first half of the year.