Invictus Energy awards key services contract to SLB for Musuma-1 well

• Well services contract awarded to SLB for Musuma-1
• Musuma-1 wellpad construction, access roads and associated civil works advancing ahead of rig mobilisation
• Exalo Rig 202 maintenance commenced ahead of mobilisation to Musuma-1
• Musuma-1 remains on track to spud in November 2026

Invictus Energy (ASX: IVZ) is on target to follow-up southern Africa’s biggest recent oil and gas discoveries with the drilling of the Musuma-1 exploration well in Zimbabwe.

Drilling of Musuma-1 is on schedule to commence in November 2026 after the signing of a well services contract with SLB for the high-impact well within the Cabora Bassa project.

Testing a new play type in the Cabora Bassa Basin, Musuma-1 will target 1.2 trillion cubic feet (TCF) of gas and 73 million barrels of condensate by a prospect highlighted by a seismic direct hydrocarbon indicator (DHI) response.

Musuma is one of eight high-potential prospects identified through seismic, and, should drilling be successful, it could unlock a substantial new resource base in addition to the already proven Mukuyu gas field.

Invictus grabbed global attention following the drilling of the Mukuyu-1 and Mukuyu-2 gas-condensate discoveries, leading international energy research firm Wood Mackenzie named Mukuyu as the second largest sub-Saharan Africa discovery of 2023.

“Securing SLB completes another critical component of the Musuma-1 campaign and significantly advances operational readiness ahead of drilling,” MD Scott Macmillan, said.

“SLB brings world-class technical expertise, equipment and operational capability, as well as valuable continuity from the successful Mukuyu-2 drilling campaign.

“Execution activity is now accelerating across the project, with construction of the Musuma-1 wellpad and associated civil works underway, Exalo having commenced the Rig 202 maintenance and preparation program, and our well services equipment entering the preparation and mobilisation phase.

“With key drilling and well services now secured, and multiple workstreams progressing in parallel, Musuma-1 remains firmly on track to spud in November 2026 and we look forward to keeping shareholders updated as we continue to progress towards the commencement of this high-impact drilling campaign.”

IVZ was up 6.78% to 6.3c. Mkt cap $104.9M.

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