Invictus inks drilling contract with Exalo
Australia’s Invictus Energy has executed a binding drilling rig contract with Exalo Drilling to drill the Muzarabani-1 exploration well in Zimbabwe, it said on March 10. The contract also an option for an additional exploration well for the basin opening drilling campaign, scheduled to begin in June.
Invictus-operated Cabora Bassa project comprises the Mzarabani and Msasa gas and condensate prospects, which the company describes as "world-class multi-trillion ft3" plays. The project received environmental approval from Zimbabwean authorities in August 2020.
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The drilling contract comes after Invictus entered an MoU with the company last December and involves the Exalo #202 rig, which has a drilling range of 5000 m. The #202 Rig is currently engaged in operations in Tanzania and is expected to start mobilisation to the Cabora Bassa project in May.
Last week the company finalised the processing of its 2021 Cabora Bassa 2D seismic survey, with the interpretation of the data now underway. “Early interpretation has revealed multiple trapping geometries and a target-rich hydrocarbon environment,” it said.