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Tuesday, January 4, 2022
Invictus Energy Limited announced a Placement of $3.5m and Share Purchase Plan (SPP) of up to $2m to raise a total aggregate amount of up to $5.5m (Capital Raising).
Invictus Managing Director Scott Macmillan commented: “We are pleased to offer our long-term and loyal shareholders the right to participate in a SPP alongside the placement participants. As announced on 9 December 2021, we are positioning Invictus to undertake a 2-well exploration campaign commencing 1H 2022 including the drilling of Muzarabani-1 well targeting prospective# resources of 8.2 Tcf + 247 million barrels conventional gas condensate. The placement & SPP follows on from recent announcements securing the Exalo #202 Rig and a farm in option agreement with Cluff Energy Africa Limited.
We have a busy 1st half of 2022 planned with finalization of our data processing for our seismic survey, update of our prospect and lead inventory, conclusion of our farm-out process and securing long lead items as we embark on our planned 2-well drilling campaign of our world class asset including the Muzarabani-1 well which will be one of the largest conventional targets drilled globally in 2022.”
For the full announcement on the capital raising exercise including the Placement and Use of Funds as well as the Share Purchase Plan visit Invictus here
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