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Invictus Energy to begin seismic data acquisition at Cabora Bassa, expands CSR program

Highlights 

  • Invictus Energy Limited (ASX:IVZ) will begin seismic data acquisition at the Cabora Bassa Project in the first week of September.
  • The seismic data processing contract has been awarded to Canada-based Earth Signal Processing Ltd.
  • Invictus has also launched the next phase of its CSR program in the Muzarabani and Mbire Districts focusing on the provision of water to the community as part of the ESG commitments under its exploration program.
  • The preparations for the basin opening drilling campaign are progressing well and Invictus is on track to select a rig and the service provider towards the end of the current quarter.

Invictus Energy Limited (ASX:IVZ) is advancing the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe. The Company announced a series of significant developments and has also provided its forthcoming plans pertaining to Cabora Bassa.

MUST READ: Invictus advances exploration program at Cabora Bassa Project across June quarter

Notably, Invictus’ asset portfolio consists of a highly prospective 250,000 acres within the Cabora Bassa Basin. Herein, Special Grant 4571 contains the world class multi-TCF Mzarabani and Msasa conventional gas-condensate prospects.

Copyright © 2021 Kalkine Media, Source: Company announcements

Awaited- Seismic data acquisition & drilling and services contract

The seismic data acquisition will commence in the first week of September. Preparations have progressed well with 400 km of line clearance completed ahead of the commencement of data acquisition-

  • The maintenance and checks have been completed on the vibroseis units.
  • Mobilisation to the field camp in Muzarabani is commencing.

The shooting of an initial test line will determine the optimum data acquisition parameters to suit the objectives of the program. Invictus notified that with the help of the latest generation STRYDE wireless nodes which are less than 25% of the weight of comparable systems, the laying out and retrieving of the wireless nodes will be significantly easier and cheaper. Having said that, the survey can utilise a swath shot methodology.

RELATED READ: Polaris to support Invictus Energy’s first 2D seismic program at Cabora Bassa

The methodology will double the seismic data coverage by providing an effective line spacing of 800-900m and provide a high resolution subsurface dataset at minimal incremental cost.

Notably, the use of the STRYDE nodal system may also result in a lower environmental footprint, given the reduction of vehicles and personnel required to deploy the nodal system compared to cable system.

GOOD READ: Invictus achieves notable milestones on fast-paced journey at Cabora Bassa Project

Besides this, the rig selection process is advancing. Discussions with shortlisted rig providers as well as drilling services providers is ongoing. The process is expected to be completed by the end of the September quarter which will then be followed with the formal award of drilling and services contract.

Granted: Seismic data processing contract

After a competitive tender process, Invictus has awarded the seismic data processing contract to Earth Signal Processing Ltd, a Canada-based company. Earth Signal is an onshore seismic and high resolution 2D data processing specialist. It has worked extensively with Invictus’ seismic contractor Polaris and onshore Africa. 

RELATED READ: Invictus Energy terminates non-binding farm-in agreement, seismic acquisition program accelerates

Expanded: Corporate Social Responsibility program

Invictus is expanding its Corporate Social Responsibility (CSR) program in the Muzarabani and Mbire District, focused on the provision of water to communities. Water is a key enabler to other CSR initiatives that Invictus wishes to initiate in the future and is the key to life in remote communities. It is also the most sort after community request.

During the current seismic survey program, Invictus is taking cognisance of the submissions from the Environmental Impact Assessment and feedback to its Community Liaison Officers from ongoing consultations with the local community. The Company will undertake to effect repairs and/or rehabilitate or drill new boreholes and install four metre high water tanks on stands to provide water storage and where appropriate solar pumps.

Completed: tendering process for long lead drilling items

Invictus has completed the tendering process for long lead drilling items (wellheads and casing) which is awaiting formal award.

RELATED READ: What’s in store for Invictus Energy?

On 30 August 2021, IVZ quoted A$0.145 on the ASX.

 

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