Invictus expects preliminary Mukuyu-2 results mid-...

Invictus expects preliminary Mukuyu-2 results mid-August

Zim Now Writer

Invictus Energy has said it has completed at least 425km of seismic line preparation ahead of the data acquisition expected to be complete by mid-August.

Invictus Managing Director Scott Macmillan expressed positive expectations while commenting on progress after recently marking the site of the Mukuyu-2 well.

“The Company is pleased to have already made significant progress with the 2D seismic data acquisition campaign in EPO 1848 and EPO 1849.

“Seismic acquisition has commenced across several exciting leads on trend from Mukuyu and we anticipate maturing a number of these to drill-ready prospects, which will add to our already world class exploration portfolio and substantial prospective resource base,” Macmillan said..

Prospecting is the very first stage in the search for oil and gas and typically covers a wide area as explorers find likely deposits. Seismic surveys use sound waves to map the structure of the earth before actual drilling is attempted.

Invictus Energy, which recently raised over US$23 million for the current oil and gas exploration and appraisal phase, has marked the site of the Mukuyu-2 well which will be located approximately 6.8km north-east of their first expedition.

“We are extremely pleased with the performance of Polaris and the local field crew who completed 425km of seismic line preparation ahead of the data acquisition, which will ensure the campaign is completed seamlessly.

The energy group, which is embarking on the first oil and gas exploration in Zimbabwe, said the campaign has created employment directly and through upstream chains..

“The CB23 Seismic Survey has generated over 100 direct jobs during the campaign for the local communities, as well as the procurement of goods and services from local suppliers,” said Macmillan.

Invictus Energy confirmed the presence of light oil, gas, and helium in the country and is optimistic that the further discovery of the precious liquids will unlock the value of the company’s material portfolio in the Cabora Bassa Basin.

Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare.