Invictus starts 2nd phase exploration campaign at Zimbabwe project

Sydney-listed Invictus Energy has kicked off the second phase exploration programme at the Cabora Bassa project in Zimbabwe with the start of a 2D seismic survey, the company said on June 14. The purpose of this campaign is to gather additional data that will help firm up identified leads and potential drilling prospects.

The phase one campaign conducted earlier confirmed the presence of light oil, gas, and helium in the basin through the Mukuyu-1/ST1 wells.

The seismic acquisition programme is being carried out by Polaris Natural Resource Development, the company awarded the seismic acquisition contract. They have mobilised staff and equipment, including vibroseis units and recording equipment, to begin the 2D seismic campaign, Invictus said.

The CB23 survey will cover a minimum of 400-line km in the eastern portion of EPO 1848 & 1849, targeting multiple leads along the proven play and the highly prospective Basin Margin play. The aim is to mature these leads into drillable prospects, the company said.

Invictus already has seven drill-ready prospects across the Cabora Bassa project, estimated to hold a combined 5.5bn barrels of prospective resources in oil equivalent on a gross mean unrisked basis.

The Cabora Bassa project comprises the Mzarabani and Msasa gas and condensate prospects and is operated and 80% owned by Invictus.  

Invictus recently successfully raised A$12.7mn ($8.3mn) through an oversubscribed share placement plan. The proceeds from the placement will be utilised for various activities at the Cabora Bassa project, including preparations for the Mukuyu-2 appraisal well programme, phase two exploration campaign, and a 2D seismic and processing programme.