Muzarabani oil firm in trading halt

Business Zimbabwe

Ndaka Majaka

AUSTRALIAN Stock Exchange (ASX) listed mining company, Invictus Energy (Invictus), has announced a trading halt on its shares on the Australian bourse pending release of an announcement, expected by Tuesday.

Invictus – the firm looking to explore the Cahora Bassa Basin oil prospects in Muzarabani – earlier this week announced completion of an Environmental Impact Assessment (EIA) on the prospect.

The EIA report was expected this month.

“The securities of Invictus Energy Ltd will be placed in trading halt at the request of IVZ, pending it releasing an announcement.

“Unless ASX decides otherwise, the securities will remain in trading halt to   Tuesday, 12 November 2019 or when the announcement is released to the market,” ASX Senior Adviser, Listings Compliance (Perth), Isabelle Andrews, said.

This comes as the firm recently released highly promising results from an independent report at its Cabora Bassa Project.

Invictus’ MD, Scott Macmillan said the Muzarabani Prospect has grown significantly in its scale and represents one of the largest conventional exploration targets globally.