- Invictus Energy Limited (ASX:IVZ) has awarded Polaris Natural Resources Inc the contract to provide acquisition services for the first 2D seismic program in the Cabora Bassa Basin.
- Polaris is Canada’s longest standing seismic company, well accepted in all communities where it has operated.
- Mobilisation of the seismic equipment and personnel to Harare is expected in the coming weeks.
Invictus Energy Limited (ASX:IVZ) continues to foster developments at its 80%-owned-and-operated Cabora Bassa Project in Zimbabwe. Shortly after the recent signing of PEDPA with the Republic of Zimbabwe, the Company granted the significant Seismic Acquisition Contract to Polaris Natural Resources Inc.
GET PEDPA DETAILS HERE: Invictus Energy riding high on capital raising, PEDPA; what next?
Copyright © 2021 Kalkine Media Pty Ltd
Notably, the first 2D seismic program in the Cabora Bassa Basin is expected to commence soon.
Polaris bags Seismic Acquisition Contract
Polaris is Canada’s longest standing seismic company. It has been awarded the Seismic Acquisition Contract by Invictus to provide acquisition services for the Company’s first 2D seismic program in the Cabora Bassa Basin.
MORE ON PEDPA DEAL: Can the new deal with Zimbabwe boost Invictus Energy’s Cabora Bassa Project?
The Company plans to-
- Conduct, process, and interpret at least 400 line kms of 2D seismic that will refine the Mzarabani-1 drilling location as well as well path.
- Identify additional prospectivity for the upcoming drilling campaign.
The seismic program will allow Invictus to refine the Mzarabani-1 target, which has been defined from the existing seismic dataset. It will also help the Company fill its prospect inventory ahead of the basin-opening drilling campaign.
Reportedly, the proposed seismic survey will be conducted with minimum environmental footprint and using existing roads and tracks wherever possible.
Acquaint with Polaris & Invictus’ Seismic Project Manager
Since 1996, Polaris has performed more than a thousand seismic projects. It introduced the first ‘low-impact seismic crew’ in Africa in 2008. The seismic company has conducted over 15 projects in East Africa.
Notably, it has been well received in the communities where it has worked. It will deploy the world’s newest and smallest wireless recording nodes and receivers.
As part of the contract, Barry Meikle joined the Invictus team as a Seismic Project Manager. Based in Zimbabwe, he has extensive experience in onshore seismic acquisition projects in PNG with Total and Interoil. He also brings project management expertise with oil field service companies in East Africa.
Polaris will start mobilising the seismic equipment and personnel to Harare in the coming weeks to undergo preparation for the acquisition before deploying to the field.
The Company is engaging and meeting stakeholders and is committed to hiring local/national experts. It aims to procure products/services in the region and across Zimbabwe.
Invictus’ exploration program remains on track. So much so, the significant amount of preparatory work it has undertaken is paying off, says Managing Director Scott Macmillan.
On 21 April 2021, IVZ quoted A$0.185 on the ASX with a trading volume of over a million shares and a market cap of A$106.23 million.
INTERESTING READ: You cannot miss the Invictus’ share price momentum!