Just got this in an email ...
Who needs Bird-Killers ??
When you got Good old Gas ...
stock-head.com.au
7.12.2023
Invictus and Zimbabwe got gas. A lot of gas.So much gas in fact, that the excited gov’t of Zimbabwe probably just broke ASX continuous disclosure Listing Rules 3.1 and/or 3.1A in its rush to get the news out.
I’m not dobbing. Just observing that everyone over there seems pretty damn excited. It’s probably a good thing that IVZ was in a trading halt when the news broke.
This is the breathless release out of Zimbabwe’s Ministry of Energy and Power Development, signed off by the Minister himself, Soda Zhemu.
Zhemu is a member of Zimbabwe’s ruling Zanu-PF party and represents the constituency of Muzarabani North.
And he is not holding back:
Now – as I’ve noted usually happens with Bevis’ Gandalf-like foresight – the package has arrived for IVZ, it’s shareholders and (I think we can say) for the nation and people of Zimbabwe.The oil and gas explorer has an asset portfolio consists of a highly prospective portion of the Cabora Bassa Basin in Zimbabwe, one of the largest under-explored interior rift basins in Africa.
SG 4571 contains the Mzarabani conventional gas-condensate prospect, the largest (previously) undrilled, seismically defined structure in onshore Africa with multi-Tcf potential. That’s trillion cubic feet in gas parlance and is typically the domain of giant offshore fields that LNG export projects are built around.
IVZ’s success probably shouldn’t be too surprising as the prospect was first defined by Mobil (now part of ExxonMobil) back during the 1990s.
Supermajors aren’t perfect, but they also tend to have a good idea of what’s prospective and what’s not. The reason Mobil chose to relinquish the project was because it was likely to be gas-bearing rather than a giant oil field, at a time where there was little demand for gas.
Times have changed of course and not only has Invictus gone all in with drilling, it has also deftly moved to up pretty much the entire oil and gas fairway at the Cabora Bassa basin that Mzarabani sits in.
