Australian company says has found oil, gas in Zimbabwe

By FARAI MUTSAKA
Associated Press

HARARE, Zimbabwe (AP) — An Australian-listed company exploring for oil and gas in Zimbabwe says that it has found deposits of both as well as helium in the Cabora Bassa Basin in the north of the country. Invictus Energy said in a statement Monday that results from an analysis of samples from drilling conducted last year confirmed “the presence of light oil and rich natural gas-condensate, with condensate gas ratios estimated at between 30 to 135 barrels per million cubic feet.” The company said the results also showed the presence of helium gas “in commercial concentrations.” Helium is used in the production of semi-conductors and liquid crystal display (LCD) panels.