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Wednesday, February 16, 2022
Invictus Energy reports that a rig contract is being finalized for its Cabora Bassa project in Zimbabwe and mobilization is to commence in May with a two-well drilling program expected to begin in June. Invictus holds an 80% operated interest in the project.
Exalo has revised the mobilization date for Rig 202 to May to enable additional inspections and maintenance to be performed once the current program is concluded. Accordingly, the spud date for the first well is now anticipated in June. Invictus and Exalo have also agreed to extend the commitment date for the second well option to allow for the formal gazettal of the extended license area.
Following Invictus’s recent updates confirming the securing of the Exalo Rig 202 and Exalo as the drilling contractor and Baker Hughes to provide integrated well services, Invictus is pleased to advise that it is progressing engagements with the Republic of Zimbabwe on a license area extension to culminate in a two-well exploration program for the upcoming drilling campaign in June 2022.
As per the announcement lodged with the ASX on November 3, 2021 the company received permission to acquire additional data during the CB21 Seismic Survey in an existing application area and has provided a commitment to the Republic of Zimbabwe to drill a second well within the area. The Company has commenced preparations for the second well including securing long leads and consumables for a two-well campaign.
The Cabora Bassa Project encompasses the Muzarabani Prospect, an 8.2 Tcf and liquids rich conventional gas-condensate target, which is potentially the largest, undrilled seismically defined structure onshore Africa. The prospect is defined by a robust dataset acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data. The company is advancing the current exploration program with the acquisition of infill seismic data for a planned H1 2022 basin opening drilling campaign.
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