Environmental management plans approved, drilling in August

This morning our 2020 Energy Pick Of The Year, Invictus Energy (ASX: IVZ), announced the renewal of its Environmental Impact Assessments through to July 2023.

With the renewals approved, IVZ confirmed that it has concluded “the permitting requirements” which allow the company to conduct in-field seismic and exploration drilling.

IVZ is now a few weeks out from drilling its Mukuyu prospect in Zimbabwe - the largest undrilled oil and gas prospect onshore Africa.

The first well will target a giant prospective resource totalling 20 trillion cubic feet (Tcf) and 845 million barrels of gas condensate — a gross mean unrisked prospective resource of ~4.3 billion barrels of oil equivalent.

Next:

We are waiting to see IVZ update the market with respect to a farm in agreement and, most importantly, mobilise its drill rig ready ahead of next month’s spudding.