Andrew
Online Reporter
Invictus Energy, the Australian firm exploring for oil and gas in Zimbabwe, has secured a drilling rig ahead of its drilling campaign set to commence in May next year.
The Australian firm is working in conjunction with South African firm, EXALO Drilling.
In a statement, Invictus Energy said they had executed a memorandum of understanding (MoU) with EXALO Drilling to drill the Muzarabani exploration well.
“Following extensive evaluation, a number of suitable rig options on both a technical and commercial basis the company has selected EXALO #202 rig for the upcoming drilling program.
“A binding rig agreement is anticipated to be signed in the new year. EXALO personnel recently completed a visit to Zimbabwe to review the potential drilling locations and logistics options,” said Invictus Energy.
The secured rig is currently engaged in drilling operations in Tanzania, and will be made available once it has completed its operations there.
Online Reporter