Wildcatter Podcast: Is South Africa’s energy crisis creating room for smaller players?
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Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is putting aside the Bloomberg terminal and picking up the microphone for another instalment of The Wildcatter Podcast.
In this latest episode, Peter interviews Scott Macmillan, managing director of Invictus Energy (ASX:IVZ).
Invictus is an 80 per cent partner in the massive Cabora Bassa gas exploration project in Northern Zimbabwe.
Reprocessing seismic data from the 1990s has defined a 200sqkm target at the Mzarabani prospect, which now has an estimated prospective resource of 8.2 trillion cubic feet of gas plus 249 million barrels of oil or condensate, should hydrocarbons be present.
The presence of AVO anomalism on seismic data, conforming with structure and targeted Triassic sediments, provides further support for a successful exploration program.
Invictus has secured attractive fiscal terms and estimates that a well to test the target should cost as little at $US10m to drill. A ready market for gas has been identified as gas to power, with an MOU already signed with a local customer willing to take 500 billion cubic feet of gas over a 20-year period.
A farm-out process is currently underway, aimed at progressing to drilling at the earliest opportunity in 2020.
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