Invictus pivots to gas exploration mode with 2D seismic imminent
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Invictus will soon have a clearer picture of its Cabora Bassa project in Zimbabwe with the much-awaited 2D seismic program to start in the first week of September.
The company has cleared 400 line km of ground ahead of the data acquisition and is mobilising the vibroseis units to the field camp following the completion of maintenance and checks.
2D seismic data is expected to help refine the location and path of the planned Mzarabani-1 gas exploration well 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 Energy (ASX:IVZ) has also awarded the seismic data processing contract to Canada’s Earth Signal Processing and has completed the tender for drilling long lead items with formal award expected soon.
Additionally, the company is nearing finalisation of the rig selection process.
“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.
“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.”
Invictus is also progressing its corporate social responsibility program in the Muzarabani and Mbire Districts with Macmillan saying the focus is on providing water to the community.
“This is especially important for women and children in the community who will be freed up from pumping water and provide them with more time for education and other positive activities.”
Polaris vibroseis units at the workshop in Ruwa ready to mobilise to field camp. Pic: Supplied
The company plans to kick off the 2D seismic program with the shooting of an initial test line to determine the optimum data acquisition parameters to suit the objectives of the program.
It will use the latest generation STRYDE wireless nodes that are less than 25% of the weight of comparable systems, making them easier and cheaper to lay out and retrieve, which in turn allows the survey to use a swath shot methodology.
This shooting methodology will effectively double the seismic data coverage by providing an effective line spacing of 800m to 900m and provide a high resolution subsurface dataset at minimal incremental cost.
Invictus adds that the 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 cable systems.
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.