Only Drilling Will Confirm If There Is Oil In Muzarabani- Mines Minister

Mines and Mining Development Minister Winston Chitando said the Australian firm Invictus will drill an exploration well to confirm if there is oil and gas in Muzarabani.

In a statement Chitando said:

I refer to the statement made by Invictus on the Australian stock exchange and hereby comment as follows — Invictus will only now be releasing their resource statement on Monday morning Australian time, the statement by His Excellency and my technical analysis pointed to the need to drill an exploration well to confirm the indicated resources. The statement further indicated that the current resource estimate to be released on Monday has been signed off by an International Oil Consultant.

More: Chronicle

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