IVZ media thread, page-145

Invictus starts field work in search for oil in Zimbabwe

“The reconnaissance programme and baseline survey consist of the traversing of the proposed infill seismic lines for a planned acquisition campaign in the 2021 dry season.

“The programme will capture details such as topography, existing access roads, drainage, vegetation cover, soil types, rock exposures, sampling of any natural oil and gas seeps, areas of development (constructions and cultivation), plus any sites of cultural, religious or historic importance,” Invictus said.

The preparatory programme has been implemented prior to onset of the rainy season to map out the routes for the planned seismic acquisition campaign next year and maximise the efficiency of the survey.

“The programme has progressed extremely well to date and is ahead of schedule,” Invictus said.
The Muzarabani prospect has ticked all the relevant boxes to warrant millions of US dollar investment into drilling for oil or gas.

Apart from exports and the tremendous job creation potential of the project, the Muzarabani oil and gas project would also bring about a cocktail of downstream benefits in the form of new industries, energy security infrastructure development.

As a major source of wealth and energy in Africa and entire world, oil and gas resources are critical for economic growth, development, and good governance.

The company said its farmout (engagement of partners to drill for oil/gas) process for the Cabora Bassa (Muzarabani) Project continues and active discussions with multiple parties are ongoing.

The project has passed technical review/assessment and is now undergoing commercial evaluation, above ground due diligence and detailed forward programme costing (including drilling cost) with the respective farmout parties.

The company said it is working with the respective parties to finalise all the outstanding requirements as far as practical.