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Signing a contract with Invictus Energy Ltd from Australia

Exalo Drilling has signed an agreement with Invictus Energy Ltd of Australia to drill the Acacia-1 and Muzarabani-1 exploration wells (1 optional) at the Cabora Bassa project in Zimbabwe. The planned start date is July 2022.

The wells will be drilled with the IRI 1200 Rig#202, which is currently drilling and workover in Tanzania on Songo Songo Island.