By Paul Nyathi|Mines and Mining development Minister Winston Chitando has also issued a statement indicating that no oil has been discovered in Muzarabani area.

Chitando reiterated Australian company Invictus Energy that there is need to drill an exploration well to confirm the presence of oil and gas in Muzarabani

Drilling the well is estimated to cost US$20 million.

Said Chitando in his statements;

“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.”