Lake steps down from Invictus

Invictus Energy board chairperson and non-executive director Dr Stuart Lake will be leaving the company before the end of this month.

“Due to personal circumstances, I am unable to dedicate the necessary time and focus required for the increasingly demanding role and I will be stepping down from the board effective Monday, November 28, 2022,” announced Lake during the Invictus AGM this Thursday.

Dr Lake said his exit is timely as it gives Invictus that leeway to find a replacement who can help the company capitalise on current developments and outlook.

“With the presence of hydrocarbons in our first exploration well, this is an opportune time for the company to bring in a new chairman with a complimentary skill set to lead the commercialisation efforts as the company transitions from an explorer,” Dr Lake said.

He said preliminary findings from the ongoing drilling of the company’s Mukuyi-1 test well were encouraging and indicative of commercially viable gas and oil reserves.

Dr Lake said Muzarabani could be the game changer for the country.

“The well is hopefully the first step towards energy independence for Zimbabwe, and the ability for Zimbabwe to supply energy to adjacent countries.

“The Government of Zimbabwe, our local partner, One Gas Resources led by Mr Paul Chimbodza, and the local community support have been pivotal to this shared success.