Invictus Energy (ASX:IVZ) - Managing Director, Scott Macmillan
Managing Director, Scott Macmillan
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  • Invictus Energy (IVZ) has awarded Polaris Natural Resources a seismic contract to provide acquisition services for its first 2D seismic program at the Cabora Bassa Project in Zimbabwe
  • Polaris is set to conduct, process and interpret a minimum of 400-line kilometres of 2D seismic data to refine the Mzarabani-one drilling location and well path at the project and identify additional prospectively for drilling
  • Ahead of the work, Polaris has welcomed Zimbabwe-based Barry Meikle to the team as seismic project manager
  • The program will train and deploy around 80 field crew, with both companies committed to hiring locally
  • Polaris will begin mobilising seismic equipment and personnel to Harare in the coming weeks to prepare for the acquisition before deploying to the field
  • Invictus Energy shares last traded at 19 cents

Invictus Energy (IVZ) has awarded Polaris Natural Resources a seismic contract to provide acquisition services for the first 2D seismic program at its 80 per cent owned Cabora Bassa Project in Zimbabwe.

Based in Canada, Polaris has conducted more than 1000 seismic projects since 1996, including 15 in East Africa.

The company is set to conduct, process, and interpret a minimum of 400-line kilometres of 2D seismic data to refine the Mzarabani-one drilling location and well path at the project and identify additional prospectively for upcoming drilling.

Ahead of the work, Polaris has welcomed Barry Meikle to the team as seismic project manager. Based in Zimbabwe, Barry has extensive experience in onshore seismic projects in Papua New Guinea and expertise in oil field service companies in East Africa.

Invictus Managing Director Scott Macmillan said the IVZ’s exploration program in Zimbabwe is on track.

“The seismic program will enable us to refine the Mzarabani-one target defined from the existing seismic dataset and help us fill our prospect inventory ahead of our basin opening drilling campaign,” he said.

Polaris CEO Bill Mooney also commented on the deal.

“The combination of technologies being employed represents not only the lightest seismic footprint possible, but also allows for very fast and high resolution data acquisition,” Bill said.

“The proposed seismic survey will be conducted with a minimal environmental footprint and utiliser existing roads and tracks wherever possible,” he added.

Invictus says the company remains committed to hiring local and national experts and procuring products and services in Zimbabwe and the region.

Similarly, Polaris is targeting an 85 per cent local content policy on all of its operations regarding employment, supplies and consumables and will train and deploy around 80 local field crew for the Cabora Bassa program.

Polaris will begin mobilising seismic equipment and personnel to Harare in the coming weeks to prepare for the acquisition before deploying to the field.

Invictus Energy shares last traded at 19 cents on April 20.

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