Exalo Rig 202 Contract Extended 12 Months for Cabora Bassa Program

Tuesday, January 3, 2023

Invictus Energy and Exalo Drilling have executed a contract amendment for Rig 202 to remain in the Cabora Bassa Basin in Zimbabwe for up to 12 months to enable the drilling of future wells in the basin.

Invictus states that the highly encouraging results from the initial Mukuyu-1 and sidetrack well have “provided the company with the confidence to keep Rig 202 warm stacked at the Mukuyu-1 location whilst preparations are made for the future drilling campaign for at least one firm well in 2023, with further wells to be agreed.”

During the rig stacking period Exalo will perform maintenance and upgrades to Rig 202 in preparation for drilling to recommence.

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