Highlights

Well-services equipment mobilisation has commenced for the upcoming Musuma-1 exploration well.

Before the well can spud, the company needs to complete rig-up, equipment installation, testing and final rig acceptance.

Musuma-1 is part of the company’s exploration activity at Cabora Bassa, where Invictus operates with an 80% project interest.

The next operational milestone is completion of remaining mobilisation, rig testing and acceptance followed by the start of drilling.

Energy explorer Invictus Energy Limited (ASX:IVZ) is preparing the Musuma-1 well at its 80%-owned and operated Cabora Bassa project in Zimbabwe. The next operational step is exploratory drilling, but the sequence begins with moving and assembling the rig and well-services equipment. The company has commenced mobilisation for the Musuma-1 campaign following relocation of its drilling rig from another project wellsite.

Equipment Starts Moving to Musuma-1

Well-services equipment mobilisation has commenced for the upcoming Musuma-1 exploration well. Exalo Rig 202 has been relocated from Mukuyu-2 to the Musuma-1 location, and rig-up operations are underway. The immediate work involves assembling and installing equipment needed for the program. The rig move establishes progress at the new location but does not mean that Musuma-1 has started drilling or reached its subsurface targets.

Rig Acceptance Comes Before Drilling

Before the well can spud, the company needs to complete rig-up, equipment installation, testing and final rig acceptance. These preparatory steps are intended to confirm readiness for drilling operations. The company said Musuma-1 remained on track to spud in the coming weeks, although the exact date depends on the arrival of remaining critical well-services equipment. The drilling timetable is therefore conditional rather than fixed.

Cabora Bassa Remains the Focus

Musuma-1 is part of the company’s exploration activity at Cabora Bassa, where Invictus operates with an 80% project interest. The November update is concentrated on drilling logistics and the status of the surface operation. It does not report new hydrocarbon discoveries, production rates or reserve volumes from Musuma-1. Any subsurface interpretation will depend on the execution and results of the upcoming well.

The Key Milestone Is the Spud Date

The next operational milestone is completion of remaining mobilisation, rig testing and acceptance followed by the start of drilling. Equipment arrival is specifically identified as a timing dependency. Once drilling begins, subsequent updates may address progress through the planned well program. At this stage, the company has confirmed preparatory activity rather than drilling success, and exploration outcomes remain uncertain until relevant well data become available.