Invictus injects US$12.75 million into Cabora Bassa oil project

INVICTUS Energy has successfully completed a $12.75 million private placement to support its next phase of exploration and appraisal at the Cabora Bassa Project in Zimbabwe.

The completion of today’s placement means Invictus has raised a combined $35.4 million, including the recently completed Share Purchase Plan and a private placement in April.

This places the Company in a strong financial position as it prepares to drill the Mukuyu-2 appraisal well – a follow-up to the play opening Mukuyu-1/ST1, which proved the presence of light oil, gas and helium with the very first well drilled in the basin.

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