Join our daily newsletter At The Bell to receive exclusive market insights
- Invictus Energy (IVZ) to commence a seismic data acquisition at its Cabora Bassa Project in Zimbabwe
- Preparations for the seismic data have progressed with 400 kilometres of line clearance completed
- The data acquisition to commence the first week of September
- Invictus has also appointed the seismic data processing contract to Earth Signal Processing
- Invictus Energy is trading 3.45 per cent up at 15 cents per share
Invictus Energy (IVZ) will commence a seismic data acquisition at its Cabora Bassa Project in Zimbabwe.
Preparations for the seismic data have progressed with 400 kilometres of line clearance completed.
The maintenance and checks have been completed on the vibroseis units, and mobilisation to the field camp in Muzarabani is commencing.
The company is expecting the data acquisition to commence the first week of September.
Invictus has also appointed the seismic data processing contract to Earth Signal Processing, an onshore seismic and high resolution 2D data processing specialists.
Managing Director Scott Macmillan is pleased to commence the seismic data acquisition in the coming days.
“We are extremely pleased with the performance of Polaris and the local field crew who have completed 400 kilometres line clearing ahead the data acquisition which will ensure that the campaign is completed seamlessly,” Mr 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.”
Just before the market opens this morning, Invictus Energy last traded at 14.5 cents per share at 9:40 am AEST.
