Australia-listed junior Invictus Energy has raised A$8 million (US$6.1 million) in capital to accelerate exploration activities on its huge Mzarabani prospect in Zimbabwe where a wildcat is set to spud within 12 months.

A successful exploration well on the structure — which is the largest undrilled conventional oil and gas target onshore Africa, according to the operator — will find ready industrial buyers in a country heavily reliant on oil imports and coal to keep itself powered, and could open up export opportunities in southern Africa.