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Muzarabani Oil: Invictus Sign Agreement With EXALO For Drilling Campaign

Muzarabani Oil: Invictus Sign Agreement With EXALO For Drilling Campaign

Invictus Energy, an Australian company has signed an agreement with EXALO for a drilling assignment set for June.

Romania-headquartered Exalo Drilling SA, has been given a huge task, which could determine the future of Invictus Energy that is hoping for a game-changing gas or oil find at the Muzarabani-based Cabora Bassa oilfields.

Results of the drilling assignment will also have a huge bearing on Zimbabwe’s future. Exalo has agreed to drill Invictus’ first of two US$20 million test wells at the oilfields.

In a statement last week, Invictus expressed its confidence that there were high chances that massive oil deposits in Zimbabwe’s Zambezi Valley region.

Invictus said a binding drilling rig contract with Exalo has been inked. Said the company in a shareholder update:

Invictus is pleased to confirm it has executed a binding drilling rig contract with Exalo Drilling South Africa to drill the Muzarabani-1 exploration well and an option for an additional exploration well for the basin opening drilling campaign, scheduled to commence in June 2022. 

It has been a long journey for Invictus, which came to the Zimbabwean scene in 2015, when talk of oil or gas reserves in Zimbabwe resurfaced.

Mobil, the global oil giant, had explored, and abandoned the Zambezi Valley in the 1990s, but after collecting vital data, now worth about US$3 million, it attracted Scott Macmillan, the Invictus chief executive officer, to try his luck.

Macmillan, a Mobil veteran, last week said he had finalised processing the Cabora Bassa 2D Seismic Survey, with data interpretation underway.

But early signals have revealed “multiple trapping geometries and a target rich hydrocarbon environment”.

Invictus has identified several potential well locations for the Muzarabani-1 well and “is maturing additional prospects identified from the CB21 survey for a second well to be drilled in the upcoming campaign. 

More: NewsDay Zimbabwe


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18 Comments

Charger 2 months ago

Hanz Binga madadisa manyadzisa muvengi apamanje muvengi ndiye adadisa atiza Binga


Hulk Hogan 2 months ago

Prophet Makandiwa prophesied about this oil @Mzarabani way back and I remember Professor Jonathan Moyo rubbishing it .


Hulk Hogan 2 months ago

Prophet Makandiwa prophesied about this oil @Mzarabani way back and I remember Professor Jonathan Moyo rubbishing it .


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Sponono 2 months ago

Hulk Hogan 3 hours, 29 minutes ago
Gentleman I think we must impose sanctions to the likes of Vybz Kartel,Tkt/maFyt,Shadows,Jah🇿🇼Tsvarie Chahototo and company. Those targeted sanctions must be as follows.
1)To avoid communication and responding to people like Vbyz Kartel, let there comments remain idle.
2)Avoid naming them in our comments as this seems to be giving them much confidence to abuse the Citizens.
3)Strictly don't respond to their folly, ZANU pf commenting guys don't have educative ideas. They promote hatred and tribalism amoung Citizens.
4)Lets not make them famous, from now on they must taste their medicine and feel the heat of these targeted sanctions.
5)We are a civilized Citizens with a vision of a bright future, so we must eliminate the Jannes and Jembres who want to drive us back to Egypt.Lets not entertain the devils.

Thank you, and share this massage if possible to other commentary sections.

Aluta continua


Jinx 2 months ago

I agree with you@ Hulk Hogan. Replying to their shenanigans gives them a morale boost to continue with their bullshi*

hello 2 months ago

ndopaunonzwa vachiti inovakwa nevene vayo apa vakupa maChina mabasa

Zvimbazi 2 months ago

Fakani Satan . Zimbabwe will never go forward on its own . We need white , japannese,chinesse etc.

Our New Parliament in Mt Ampden is being buit by the CHINESE, whilst have builders here in Zim . (Slavery will not happen because we have the numbers)

Munya 2 months ago

I hope rebels will stay away from us.


zhowezhowe 2 months ago

gas neoil zvingasumudze nyika uakayatadzw kusumudzwa nemadiamonds negold...


Jinx 2 months ago

😔Nhai nhai... it's sad.

WILLIAM SONBOY CHINEMBIRI 2 months ago

LET US KEEP OUR FINGERS CROSSED. IF OIL IS ACTUALLY FOUND IN MUZARABANI AS THINGS PROMISE, ZIMBABWE SHALL BE THE SECOND COUNTRY IN SOUTHERN AFRICA TO HAVE OIL FIELDS AFTER ANGOLA. THIS WILL GIVE A GOOD ECONOMIC IMPACT ON ZIMBABWE.


cute 2 months ago

obviously this will benefit tagwirei and his zanu pf

Seh 2 months ago

we expected the same for Chiyadzwa diamonds but what happened, we are still struggling & US$15b is gone.

Mhazi of Silobela 2 months ago

Finding oil is a two edged sword, it will transform the economy - barring corruption and it will bring ISSI to our land. There is no country which has oil and does not have rebels.

Visit Silobela
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Elder 2 months ago

Can anybody honestly tell us, the elders, how our diamonds, lithium, gold and a whole lot of natural resources are benefiting the majority of Zimbabweans. This oil discovery, I am afraid, is for the few elites unless we stand up boldy againist corruption, like Hon. Mliswa is doing.

Gidza 2 months ago

Who is paying the $20 million, the taxpayer.


Elder 2 months ago

Romania headquartered dhuze ne Belarus. Uuuum Tagwirei chete hakuna mumwe.


Nkust 2 months ago

Exalo ndeya tagwirei i shelf company



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