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  • Invictus Energy has announced the Zimbabwe Environmental Management Agency (ZEMA) has approved its Environmental Impact Assessment (EIA)
  • The approval of the EIA will allow the company to carry out a full EIA assessment

Invictus Energy has announced the Zimbabwe Environmental Management Agency (ZEMA) has approved its Environmental Impact Assessment (EIA).

The approval of the EIA will allow the company to carry out a full EIA assessment including surveys, baseline studies and discussions with stakeholders, local leaders and government.

The company’s Cabora Bassa project is located at the Cabora Bassa Basin in northern Zimbabwe and covers 250,000 acres.

Previously explored by Mobil Oil, the project contains potentially the largest, seismically defined, un-drilled structure in onshore Africa.

On September 6, a meeting with local authorities and traditional leaders and Chiefs from the Muzarabani and Mbire Districts was held in Centenary.

Invictus Energy is an oil and gas exploration company that is focused on high impact energy resources in sub-Saharan Africa.

Managing Director Scott Macmillian said that the EIA was an important undertaking.

“The completion and approval of the EIA study will fulfil the environmental approvals required for future exploration drilling and development of any resources by the regulator EMA,” he said.

“We will consult closely with the local community and stakeholders and develop an Environmental Management and Monitoring Plan which will ensure that the mitigation measures are adhered to during the project,” Scott added.

The EIA study will be carried out by the Scientific & Industrial Research & Development Centre.

Invictus Energy dropped 5.26 per cent on the ASX today, selling shares at 3.6¢ apiece at 12:49 pm AEST.

IVZ by the numbers
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