7:45energycapitalpower.comEnergy Capital & PowerIIIIprogram, the company intends to bring in new partners to further develop the project. "Invictus will be seeking to divest a portion of our 80% equity in the project and bring in a strategic industry partner to tund our share of the development, as is common in the industry," stated Invictus Energy Managing Director, Scott Macmillan.In a significant development, Invictus Energy recently announced positive results from its Mukuyu-l exploration well, which last month confirmed the presence of light oil, gas condensate, and helium in the Cabora Bassa Basin.The company recently secured $24.24 million through a share purchase plan and private placement to support the project's next phase.What's more, Invictus Energy is also considering listing on Zimbabwe's US dollar-trading Victoria Falls Stock Exchange (VFEX). "It is a logical step for Invictus to have a listing on the VFEX with our presence in the country and we will seek to complete a listing when the timing is right for us to do so," Macmillananahana
IVZ Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
