Located in northern Zimbabwe, IVZ’s project sits within the Cabora Bassa Basin which has all the ingredients of a working petroleum system and comes with a robust dataset.Here, IVZ is progressing what looks to be the largest undrilled seismically defined structure onshore Africa.
Representing one of the largest conventional exploration targets globally, the project’s Mzarabani Prospect is estimated to contain 8.2 Tcf + 250 million barrels of conventional gas / condensate (gross mean unrisked) across five horizons.
This is certainly elephant scale. (Elephant fields are conventional oil or gas fields with a recoverable reserve of 1 billion boe or more).To get an idea of how big the Cabora Bassa project is, its 9 Tcf gas is approximately double the size of the Pluto and Xena gas field offshore Western Australia.It is also potentially nine times the size of the Waitsia gas field in WA, the largest onshore discovery in Australia in 40 years, containing just under 1 trillion cubic feet gas.
IVZ is chasing enormous target and it can do that with one single well.This target is so big that if it had been located anywhere else in the world it would have been drilled already.Given its size, if any one of the stacked prospects are hit with the drill bit, it would be a transformational result for IVZ and its shareholders.
