Invictus’ Cabora Bassa seismic survey is going to plan
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Invictus’ 2D seismic program over its Cabora Bassa project in Zimbabwe is progressing well with about 220km of data recorded to date.
Data quality and density being acquired is excellent compared to the previous survey carried out by Mobil in 1990 while health, safety and environment performance has also been excellent to date with more than 87,000 hours recorded without a lost time injury.
Invictus Energy (ASX:IVZ) adds that it has started seismic data quality control and processing while continuing the survey.
The company is also finalising its US based OTCQB listing after receiving significant investor interest from North America.
It will trade under the ticker IVCTF and will seek DTC eligibility from The Depository Trust and Clearing Corporation to ensure a more liquid and transparent market for its common shares.
The 2D seismic survey at 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, is expected to help refine the location and path of the planned Mzarabani-1 gas exploration well.
Previous work had defined five stacked targets at the prospect, all of which will be tested by the same well.
Drilling is expected to begin in the first half of 2022.
This article was developed in collaboration with Invictus Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.