Invictus Energy commences second phase of oil, gas exploration

By Reason Razao

INVICTUS Energy says it has started the second phase of Cabora Bassa oil and gas exploration.

The project is the first oil mining expedition in Zimbabwe.

Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare.

According to a statement by the energy utility company, line clearing was already underway ahead of seismic data acquisition.

The group Managing Director, Scott Macmillan, said: “The commencement of line clearing activities for the CB23 seismic campaign marks the start of operations for our Phase 2 exploration program in the Cabora Bassa Basin.”

“This additional data will help us firm up several already identified leads on trend with Mukuyu and in the Basin Margin Play into drill ready prospects.”

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Macmillan said the second phase comes at the back of a successful first phase.

“It is a key part of our strategy to build on the success of the recent Phase 1 campaign, which saw the Mukuyu-1/ST1 wells confirm the presence of light oil, gas and helium in the basin.

“This is just the first step to unlocking the potential of the Cabora Bassa Basin, with the seismic campaign to identify future exploration wells with the potential to not only add to Zimbabwe’s future energy security, but the entire southern Africa region.

“We also remain on schedule to spud the Mukuyu-2 appraisal well in the third quarter-CY23 with the aim of confirming a commercial discovery and putting the Company on a pathway to development.”

The energy utility company last week announced that they raised over US$23 million for the second phase of Cabora Bassa oil and gas exploration and appraisal.

Recently, Invictus confirmed the presence of light oil, gas condensate and helium at its Cabora Bassa basin adding that the mud gas analysis from the Mukuyu-1 well drilled last year had proved the presence of hydrocarbons in multiple reservoir pay zones.

Zimbabwe Environmental Management Agency (EMA) recently approved Invictus Energy’s Environmental Impact Assessment (EIA) paving way for the commencement of Mukuyu-2 well exploration.