Remember, this is an entree for our funding..... the partnership E&P and other.... are not officially announcement yet...... We are entering a new phase.... growth phase....
Invictus Energy Managing Director Scott Macmillan commented:
“We are thrilled with the overwhelming support from Zimbabwean institutional investors, particularly the Mutapa Investment Fund as our future partners in the project on behalf of the Republic of Zimbabwe. “Mutapa’s investment is a strong endorsement of the Cabora Bassa Project and recent significant gas-condensate discoveries delivered from Mukuyu-2.
“Further support of institutional investors and the Mangwana Opportunities Fund strengthens our investor base and in-country presence.
“Our partnership with Mangwana continues to assist the Company advance key objectives in country and provide exposure for local investors to our world class Cabora Bassa Project.
“The Government of Zimbabwe's commitment, through the PPSA, provides a solid foundation for a transparent and stable operating environment, which is crucial for the successful phased and ultimate full-field development of Cabora Bassa.
“Our farmout process to secure a strategic partner continues to progress well with active discussions advancing with multiple parties.”
Mutapa Investment Fund Chief Executive Officer Dr John Mangudya commented:
“The Government of Zimbabwe's commitment, through our support for Invictus and the negotiations of the Petroleum Production Sharing Agreement, provides a solid foundation for a transparent and stable operating environment, which is crucial for the successful development of this world-class asset through our future partnership."
“The Mutapa Investment Fund’s participation in the development of the Cabora Bassa Project has the potential to generate substantial returns while delivering sustainable benefits to the nation for generations to come.”
“We are confident that our support for Invictus and the project lays the foundation stone for a vibrant and productive oil and gas sector that will contribute to the creation of jobs, generation of exports and delivery of energy security to Zimbabwe.”
Mangwana Capital Managing Director Ben Mbanga commented:
“Mangwana is pleased to have led this strategic investment process. Our fund investors comprise a broad range of Zimbabwe’s institutional investors and our Investment in Invictus will ensure that they share in the success of the Company.
“The Cabora Bassa project and Mukuyu discovery is a potential game changer for the country which can bring about significant economic benefits and energy security to the entire region. “We look forward to supporting Invictus to achieve their goals in Zimbabwe and furthering our partnership with them.”
GLTA
T10
IVZ Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
