Invictus confirms Zimbabwe gas, oil deposits

INVICTUS Energy Limited (IEL) says the processing and reprocessing of data around the Cabora Bassa project has shown signs of hydrocarbons, confirming potential natural gas and crude oil deposits.

Last year, IEL conducted a 2D Seismic Survey of the Cabora Bassa area, located in the northern part of the country, as part of its exploration into the area to find potential gas and oil deposits.

This is because the Cabora Bassa project encompasses the Mzarabani prospect, a multi-trillion cubic feet and liquid-rich conventional gas-condensate area.

"The acquisition and data processing of the CB21 survey, along with the reprocessing of 1990 Mobil survey data has achieved the objectives of providing a high quality, comprehensive 2D dataset which is contractor-consistent and process-consistent.

"The parameters employed for the acquisition of the CB21 survey, along with modern data processing technology have significantly elevated the data quality to a high standard," IEL said in a statement.

"As the interpretation is progressing, multiple anomalies have been noted in the basin's seismic data.

"These can often be indicators for the presence of hydrocarbons.

"These anomalies will be investigated with additional data processing products produced by Earth Signal Processing.

"Their geophysical signature, as well as trapping geometry and position (structurally and stratigraphically) will then be evaluated.

"This will allow the anomalies to be assessed and ranked to ascertain the likelihood of viable hydrocarbons within a definable trap."

The data processing of the 2021 Cabora Bassa 2D Seismic Survey and concurrent reprocessing of a legacy Mobil dataset has largely been completed by onshore high-resolution data specialists, Earth Signal Processing in Calgary, Canada.

IEL hired Earth Signal Processing last year.

It was hired for its expertise in onshore, high-resolution 2D and 3D seismic data processing.

The Mzarabani prospect is defined by a robust dataset acquired by Mobil, a United States-based oil firm, in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.

Mobil explored for oil in Muzarabani in the early 1990s, before IEL purchased the dataset.

IEL said all key products had been received by the firm and that seismic interpretation was progressing.

IEL has an 80% ownership in the Cabora Bassa project.

"The maiden drilling programme to test the world-class Muzarabani prospect is coming together well.

"We are pleased to have secured Exalo's rig 202 as well as well services with Baker Hughes and long-lead items," Invictus managing director Scott Macmillan said.

He said final seismic data had provided evidence of multiple trapping geometries and a target rich environment for the upcoming drilling programme.

"The drilling campaign is scheduled to commence in June 2022 and we are working towards a two-well programme.

"The company is maturing additional potential within our acreage and continuing to build on our significant prospective resource inventory," Macmillan said.

Invictus is expecting to drill the first of its two test wells later this year, which will be crucial in determining the quality and quantity of oil or gas found in the area.