INVICTUS Energy Limited (IEL), an Australian energy firm, has started mapping the geological area of its second drilling site in the Mukuyu as it seeks to finish its prospecting of the area.
IEL has announced that it began its seismic acquisition, a process used to map geological structures beneath the earth's surface or beneath the seabed and is common practice in the exploration of oil.
This comes after IEL raised capital to resume its activities, following the firm briefly halting operations in December 2022, at the drilling site after confirming light gas condensate, oil, and helium in May. The drilling site is located in Muzarabani district of the Mashonaland Central province of the country, located northeast of Zimbabwe.
In a statement yesterday, IEL managing director Scott Macmillan said the company was pleased to have already made significant progress with the 2D seismic data acquisition campaign.
“Seismic acquisition has commenced across several exciting leads on trend from Mukuyu and we anticipate maturing a number of these to drill ready prospects, which will add to our already world class exploration portfolio and substantial prospective resource base,” he said.
“We are extremely pleased with the performance of Polaris and the local field crew who completed 425km of seismic line preparation ahead of the data acquisition, which will ensure the campaign is completed seamlessly.”
He said the CB23 Seismic Survey had generated over 100 direct jobs during the campaign for the local communities, as well as the procurement of goods and services from local suppliers.
“The local community engagement is in keeping with the Company’s shared prosperity approach, ensuring all stakeholders, including the local community, benefit from finding, developing and producing natural resources,” Macmillan said.
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Polaris Natural Resource Development Ltd, working on Invictus's behalf, has been making steady progress on the CB23 2D seismic acquisition program.
According to IEL, Polaris is in a great position to provide secure and efficient operations after purchasing the CB21 seismic survey from Invictus.
“A total of 425km of lines have been successfully and safely cleared and the layout of receiver nodes is well underway. The first recorded data has been acquired and the survey is expected to be complete in mid-August,” IEL said.
“The program is a key part of the Company’s Phase 2 exploration campaign in the Cabora Bassa Basin, with the new seismic lines tying-in to existing legacy data, including Invictus’ 2021 survey.”
IEL said that the data would provide a denser seismic grid over leads identified in the east of the basin and along the basin’s southern margin.
“This, along with data and insights from Mukuyu-1 and the upcoming Mukuyu-2 well, will be used to mature these leads as future drilling candidates,” IEL said.
