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Invictus Energy (ASX:IVZ) - Managing Director, Scott Macmillan
Managing Director, Scott Macmillan
Source: The Market Herald
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  • Invictus Energy (IVZ) encouraged by processing results from seismic survey across the Cabora Bassa Project in Zimbabwe
  • The company wrapped up the survey earlier this month, acquiring around 840 kilometres of high resolution 2D Data 
  • The data revealed a variety of structural and stratigraphic features, which the company says has provided target areas for its upcoming drilling program 
  • Final interpretations are still pending, after which Invictus will begin selecting its drilling locations 
  • Shares have been trading flat at 14 cents

Invictus Energy (IVZ) has reported “encouraging” results from preliminary processing of a seismic survey undertaken across the Cabora Bassa project in Zimbabwe.

The project encompasses the Muzarabani prospect which IVZ says is potentially the largest, un-drilled seismically defined structure onshore Africa.

IVZ is advancing its current exploration program and completed a 839.3 kilometre infill seismic data acquisition campaign earlier this month with the aim of refining drilling locations.

Processing of selected lines is being undertaken by EarthSignal and has reportedly shown strong amplitude anomalies in shallow sections of the Muzarabani structure and basin margin fault.

In conjunction, previous survey data acquired by Mobil in the 1990s is set to be reprocessed by EarthSignal to integrate the legacy dataset and apply insights to the entire Cabora Bassa Basin.

Invictus’ Managing Director Scott Macmillan said the initial processing results reveal features that provide for a target rich environment for the upcoming drilling program.

“The early indications from the preliminary seismic processing are very encouraging and particularly the strong amplitude anomalies observed in the Muzarabani structure and along the basin margin fault.”

“These initial results are encouraging as we progress with the selection of optimal drilling locations for the upcoming drilling campaign scheduled for the first half of 2022.”

Shares were trading flat at 14 cents at 9:48am AEDT.

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