Invictus Energy confirms November spud for Musuma-1

• Invictus Energy executed a contract variation to secure the Exalo Rig 202 to drill the Musuma-1 well in Zimbabwe.
• The announcement moved Invictus Energy shares up to $0.067 during morning trading.
• The drilling campaign targets high-impact resource expansion to complement the existing Mukuyu gas-condensate discovery.

Invictus Energy (ASX:IVZ) has executed a deed of variation with Exalo Drilling S.A. to secure Exalo Rig 202 for its Musuma-1 exploration well scheduled to spud in November

The drilling initiative follows the completion of initial site preparation steps, contrasting with prior planning stages before finalising hardware readiness campaigns.

“Following execution of the Deed of Variation with Exalo and commencement of the rig maintenance and readiness campaign, we’re pleased to confirm a November spud date for the Musuma-1 well,” said Invictus Managing Director Scott Macmillan.

Civil works and wellpad construction are scheduled to start next week following customary cultural ceremonies, while final evaluations of well services provision are complete.

The company stated that the Musuma-1 well holds the potential to materially expand the resource base of the Cabora Bassa Project in Zimbabwe.

Following the announcement, the Invictus Energy share price was up at $0.067.

Invictus Energy holds a 360,000-hectare portfolio across Special Grant 4571 and Exclusive Prospecting Orders 1848 and 1849 in the Cabora Bassa Basin.

The asset base contains the Mukuyu Gas Field alongside multiple untested basin margin prospects across the sub-Saharan African region.