Invictus Energy Ltd is an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa.
The company's asset portfolio consists of a highly prospective 360,000 hectares within the Cabora Bassa Basin in Zimbabwe.
The company has achieved a significant result with its first well in the basin, which has proven up the hydrocarbon potential over a 900m gross interval and established a new petroleum province.
A contract amendment has been executed to keep Rig 202 in the Cabora Bassa Basin in Zimbabwe for up to 12 months to enable the drilling of future wells in the basin.
A shareholder briefing is to be conducted to discuss the results of the Mukuyu-1 well to date and the forward operations.
Following the announcement, shares of Invictus Energy (ASX:IVZ) were up 9.434%.