Invictus fuels Zimbabwe oil rush
Invictus Energy Limited has formed a local investor group to back its Cabora Bassa oil and gas project in Zimbabwe’s Muzarabani district. The consortium includes the Mutapa Investment Fund, the National Social Security Authority, and other major institutional investors. This move follows a US$500 million funding pledge from Qatar’s Al Mansour Holdings in August, which lifted Invictus’s market value from AUD84.98 million to AUD256.55 million.
Managing director Scott Macmillan said Mangwana Capital played a key role in assembling the investor group. He noted their involvement shows strong confidence in the company and ties its success to Zimbabwe’s economic goals. Invictus recently listed on the Victoria Falls Stock Exchange, giving local investors direct access to its growth.
The company plans to expand its resource base through focused exploration, seismic surveys, drilling, and testing. These efforts aim to turn discovered resources into commercial reserves. Once appraisal work is complete, Invictus will finalize a development plan, secure sales contracts, meet licensing conditions, and arrange financing to commence production.
