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Invictus Energy, Dallaglio Investments and Himoinsa Southern Africa have signed a Memorandum of Understanding (MOU) to develop a gas-to-power project to supply electricity to Eureka Gold Mine, one of the largest gold producing mines in Zimbabwe.
Invictus Energy has reinforced the confirmation of a rich gas-condensate discovery in the Mukuyu field, following positive results from further downhole reservoir fluid sample analysis.
Australian energy firm, Invictus Energy Limited, has raised AU$15 million (US$10,25 million) through an institutional placement of new shares to fund operations at its Mukuyu 2 oil and gas drill site.
Invictus Energy (IVZ) has ended operations on Mukuyu-1 and ST1 amid ‘unsuitable’ exploration characterised by challenges with drilling due to equipment failures. In a statement, Invictus managing director Scott Macmillan said difficulties during drilling included breakage of a T Bar Clamp during attempts to retrieve the wireline formation testing tool, which was later damaged in the process.