Join our daily newsletter At The Bell to receive exclusive market insights
- Invictus Energy (IVZ) receives 2D seismic dataset for its 80 per cent owned and operated Cabora Bassa project in Zimbabwe
- This data quality is “excellent” and improves the definition over the Giant Muzarabani Prospect and base margin fault
- Invictus is expecting the final data set in early February and is on track to commence a two well drilling campaign in May
- Invictus is trading in the grey this morning at 12 cents at 10:32 am AEDT
Invictus Energy (IVZ) has received a 2D seismic dataset for its 80 per cent owned and operated Cabora Bassa project in Zimbabwe.
Data processing of the 2021 Cabora Bassa 2D seismic survey data is reportedly progressing on schedule with earth signal processing in Calgary, Canada.
Invictus has now received all hydrocarbon post-stack migration of the survey data as well as the data from the reprocessing of US$30 million (A$41 million) legacy Mobil dataset.
This data quality is “excellent” and improves the definition over the Giant Muzarabani Prospect and base margin fault.
“The quality control of the Post-Stack Migration data has been completed and is already showing significant improvements in the overall seismic data quality,” the company said.
“The CB21 Survey data has provided evidence of multiple trap geometry configurations which provides a target rich hydrocarbon environment for the upcoming drilling campaign.”
Invictus is expecting the final data set in early February and is on track to commence a two well drilling campaign in May.
Last week, the company increased its share purchase plan to $4 million due to strong shareholder demand. Funds will be used to assist the drilling costs of the Muzarabani-1 well.
Invictus is trading in the grey this morning at 12 cents at 10:32 am AEDT.
