HIGHLIGHTS
- SG 4571 Licence extension formally gazetted
- Paves way for exploration and other works programs to roll out over next three years
Invictus Energy has provided an update at its 80% owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin.
SG 4571 Licence Containing Mukuyu Discovery renewed for further 3 year term
Geo Associates, the Company’s 80% owned subsidiary and holder of Special Grant 4571 has received notification that the Minister of Mines and Mining Development, with the authorisation of the President, has, in terms of section 301 of the Mines and Minerals Act [Chapter 21:05] extended the tenure of SG 4571 licence for a further three years to 19 December 2027.
The formal renewal was completed through the publishing of the notice in the Government Gazette under General Notice 2113 of 2024.
The Company plans to undertake a comprehensive work program during the third three-year licence period including 3D seismic acquisition and additional exploration/appraisal drilling and testing.
The Company is able to apply for a production special grant licence at any stage.
Source: Invictus Energy
