Invictus Energy (ASX:IVZ) said its Musuma-1 well was confirmed as the first high-impact exploration well to be drilled outside the Mukuyu gas-condensate discovery area in Zimbabwe, according to a Monday Australian bourse filing.
The Musuma prospect was selected based on strong direct hydrocarbon indicators identified in the seismic data.
The firm is now conducting the necessary preparatory steps to spud the well in the second half of the year, while Exalo is completing maintenance and upgrades on Rig 202 which is stacked at the Mukuyu-2 well site.
Its shares rose 8% on market close.
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