As a result, Invictus’ strategy and plans for developing its Cabora Bassa Basin assets are summarised below:
• Completing post-well studies program to maximise insights from existing wells. • Reservoir engineering studies to determine how best to test and produce the Mukuyu reservoirs to inform likely development concept. • Refine well design, data acquisition program and well services contracts to deliver a reduction in future Mukuyu well costs by 40%. • Ongoing engagement with seismic, drilling and ancillary service providers to ensure equipment availability in Zimbabwe on favourable terms. • Conduct 3D seismic over the Mukuyu gas-condensate field to assist in delineating resources and reservoir connectivity to determine future well locations, high-grade areas of the field for early development and strategic locations for surface processing and distribution facilities. • Further appraisal drilling including well testing to build the resource base sufficiently and underpin future development. • Phased development of Mukuyu to generate early cashflow, maximise capital efficiency and optimise a larger scale full field development based on a full understanding of the available resource: o Pilot Phase: Expandable pilot project with onsite power generation or trucked compressed natural gas (CNG) to Eureka Gold Mine through the Himoinsa and Dallaglio Investments gas sale MOU. o Phase 1: Large scale gas to power through existing SAPP network underpinned by Mbuyu Energy. o Phase 2: Piped gas to large industrial consumers underpinned by Sable Chemicals.
IVZ Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
