AUSTRALIA-LISTED junior Invictus Energy has raised A$8 million (US$6.l million) in capital to accelerate exploration activities on its huge Mzarabani prospect in Zimbabwe where a wildcat is set to spud within 12 months. A successful exploration well on the structure - which is the largest undrilled conventional oil and gas target onshore Africa, according to the operator - will find ready industrial buyers in a country heavily reliant on oil imports and coal to keep itself powered, and could open up export opportunities in southern Africa.
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