Business - Mining - December 7, 2020

Zim oil, gas exploration field operations end

By Amanda Jojo and Kundai Mudzviti

Independent oil and gas exploration company Invictus Energy has successfully concluded its recent field operations and reconnaissance program in the Cabora Basa Basin in Zimbabwe.

The project received a priority status from the government and it encompasses the Muzarabani Prospect, the potentially largest, undrilled seismically-defined structure onshore Africa.

Invictus management provided an update last week citing the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe.

“The company successfully concluded its recent field operations and reconnaissance program in the Cabora Basa Basin. Detailed traversing and mapping across the area have been completed and identified the optimal acquisition routes,” reads the update.

The company’s managing director Scott Macmillan added that progress was also made on the first seismic acquisition.

“The Company is making significant progress on executing the first seismic acquisition program in the country for 30 years and is working closely with the seismic contractors on a planned acquisition campaign in 2021 to commence once the rainy season has concluded,” he said

The recent reconnaissance field program revealed additional exposure of the Jurassic-Cretaceous aged Dande Formation and possibly younger sediments approaching the Southern Basin edge.

“These younger sequences were not the focus of previous studies or operators and as a result, little information on the potential of this sequence has been gathered until now. The reconnaissance program has also identified additional locations for further geochemical sampling and analysis which is being undertaken,” Macmllian said.

The Company will hold an investor briefing so as to provide an overview of the latest developments with the Company’s Cabora Bassa project.

 

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