{"id":96659,"date":"2024-07-19T11:39:52","date_gmt":"2024-07-19T09:39:52","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence"},"modified":"2024-07-19T14:10:50","modified_gmt":"2024-07-19T12:10:50","slug":"invictus-gets-gas-oil-exploration-licence","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence","title":{"rendered":"Invictus gets gas, oil exploration licence"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>AUSTRALIAN energy firm Invictus Energy Limited\u2019s gas and oil exploration licence has been extended for three years, with the firm planning to apply for a production licence soon.<\/p>\n

Invictus launched its operations locally in 2018 to explore oil and gas after obtaining Special Grant (SG) 4571 and exclusive prospecting orders 1848\/49 in the Muzarabani district, located in the north-eastern part of Zimbabwe.<\/p>\n

\u201cGeo Associates (Pvt) Ltd, the company\u2019s 80% owned subsidiary and holder of Special Grant 4571, has received notification that its application to extend the tenure of the SG 4571 licence for a further three years has been approved by the Mining Affairs Board. This will be followed by publication in the Government Gazette,\u201d Invictus said in a statement.<\/p>\n

\u201cThe exploration licence for the third period for SG 4571 runs to June 2027. The company plans to undertake a comprehensive work program for the third three-year exploration period including 3D seismic acquisition and additional exploration\/appraisal drilling. The company is able to apply for a production special grant licence at any stage.\u201d<\/p>\n

The firm is listed on the Australian Securities Exchange (ASX).<\/p>\n

Invictus has a market capitalisation of AUD100,67 million (US$67,85 million) on the ASX as of yesterday.<\/p>\n

\u201cThe estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development,\u201d Invictus said.<\/p>\n

\u201cFurther exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons. Prospective resource assessments in this release were estimated using probabilistic methods in accordance with SPE-PRMS standards.\u201d<\/p>\n

SPE is the Society of Petroleum Engineers International, an American not-for-profit professional association with 127 000 members in 145 countries engaged in the exploration and production of oil and gas and related energy resources.<\/p>\n

SPE International has the petroleum resources management system for consistent and reliable definition, classification and estimation of hydrocarbon resources.<\/p>\n

For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. AUSTRALIAN energy firm Invictus Energy Limited\u2019s gas and oil exploration licence has been extended for three years, with the firm planning to apply for a production licence soon. Invictus launched its operations locally in 2018 to explore oil and gas after obtaining Special Grant (SG) 4571 and exclusive prospecting orders 1848\/49 in […]<\/p>\n","protected":false},"author":84,"featured_media":96658,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":["post-96659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-zimbabwe"],"yoast_head":"\nInvictus gets gas, oil exploration licence - zimbabwe<\/title>\n<meta name=\"description\" content=\"AUSTRALIAN energy firm Invictus Energy Limited\u2019s gas and oil exploration licence has been extended for three years, with ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Invictus gets gas, oil exploration licence\" \/>\n<meta property=\"og:description\" content=\"AUSTRALIAN energy firm Invictus Energy Limited\u2019s gas and oil exploration licence has been extended for three years, with ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-19T09:39:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-19T12:10:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/07\/sm_1721378145.045902.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Invictus gets gas, oil exploration licence\",\"datePublished\":\"2024-07-19T09:39:52+00:00\",\"dateModified\":\"2024-07-19T12:10:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\"},\"wordCount\":334,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/07\/sm_1721378145.045902.jpg\",\"keywords\":[\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/invictus-gets-gas-oil-exploration-licence\",\"name\":\"Invictus gets gas, oil exploration licence - 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