Invictus reprocessing legacy oil and gas data
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. Finfeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Invictus Energy Ltd (ASX:IVZ) has appointed Getech Group plc to provide data management and technical support as it embarks on a low-cost, high impact work program at the Cabora Bassa Project in Zimbabwe.
Getech is a leading AIM-listed supplier of petroleum consultancy services to companies and governments in the oil and gas industry and has extensive experience in Africa.
The consultancy group will provide services that encompass initial data management, reprocessing and reinterpretation of US$30 million legacy Mobil dataset.
Election paves the way for active exploration
In commenting on the political environment and potential for new investment in Zimbabwe, IVZ Managing Director Scott Macmillan said, “Now that the harmonised elections in Zimbabwe have been concluded, the administration is focused on continuing to attract foreign investment and resurrecting the economy.”
The aim of this work is to reprocess the legacy data Mobil acquired by utilising the latest seismic processing techniques which have improved significantly since the data was acquired over 25 years ago.
This will provide Invictus with a robust view of the subsurface which will enable the group to map out any further prospects and leads within its high potential acreage, in addition to the world class Mzarabani gas-condensate prospect.
On this note, Macmillan said, “We have got an aggressive work program and timeline to mature the Cabora Bassa Project to commence a farm out campaign over the coming months.
“We look forward to advancing the project and updating the market on our progress in due course as our work program delivers results”.
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.
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