Invictus acquires seismic data for Cabora Bassa project

OIL and gas-focused Invictus Energy (Invictus) says it will next week commence the acquisition of the seismic data for its Cabora Bassa project in Zimbabwe.

The Australian-listed company reported that it has cleared 400km line of ground ahead of the data acquisition and is mobilising the vibroseis units to the field camp following the completion of maintenance and checks.

The company expects 2D seismic data to help refine the location and path of the planned Mzarabani-1 gas exploration that will test the potential of Cabora Bassa, which has been independently assessed to host prospective resources of about 9,25 trillion cubic feet of gas and 294 million barrels of condensate.

Invictus has 80% stake in Cabora Bassa.

"The company is pleased to be commencing the seismic data acquisition in the coming days and the preparation for this campaign has gone well and all the equipment and personnel heading to the field," managing director Scott Macmillan said in a market update yesterday.

"We are extremely pleased with the performance of Polaris and the local field crew who have completed 400km line clearing ahead of the data acquisition which will ensure that the campaign is completed seamlessly."

"The preparations for the basin opening drilling campaign are progressing well and we are on track to select a rig and the service providers towards the end of this quarter and then commence formal contract negotiations and award," he said.

Invictus said data recording was scheduled to commence next week with the shooting of an initial test line to determine the optimum data acquisition parameters to suit the objectives of the programme.

By utilising the latest generation stryde wireless nodes which are less than 25% of the weight of comparable systems makes the laying out and retrieving of the wireless nodes significantly easier and cheaper and thus the survey can utilise a swath shot methodology, the firm said.

"This shooting methodology will in essence allow the company to double the seismic data coverage by providing an effective line spacing of 800-900m and provide a high resolution subsurface dataset at minimal incremental cost," Macmillan said.

The use of the stryde nodal system also results in a lower environmental footprint as a result in the reduction of vehicles and personnel required to deploy the nodal system compared to the cable system.

Invictus also announced that the seismic data processing contract had been awarded to Canada-based Earth Signal Processing (Ltd) following a competitive tender process.

Earth Signal is an onshore seismic and high resolution 2D data processing specialist and has worked extensively with Invictus' seismic contractor Polaris and onshore Africa.

Invictus has also completed the tendering process for long lead drilling items (wellheads and casing) which is awaiting formal award.

"The rig selection process is advancing and the company is in detailed discussions with shortlisted rig providers as well as drilling services providers. The process is expected to be complete by the end of the September quarter which will then be followed with the formal award of drilling and services contract," it said.

Invictus is an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa.

Its asset portfolio consists of a highly prospective 250 000 acres within the Cabora Bassa Basin in Zimbabwe, containing the world class multi-TCF Mzarabani and Msasa conventional gas-condensate prospects.