Newly defined data released last week by Invictus Energy,
has provided management with increased confidence regarding a sizeable increase
in the prospective resource estimate of the Muzarabani oil prospect that
currently stands at 3,9 Tcf (trillion cubic feet) and 181 million barrels of
condensate.
The seismic data, which is now final, was described by
managing director Scott Macmillan as exciting and encouraging.
“We are excited to have received the final data from our
contractors and to see the significant improvement in the quality of the
seismic data and subsurface imaging.
“The better imaging over the giant Muzarabani structure and
particularly along the basin margin fault is very encouraging.”
Mr Macmillan, recently said the results have enabled
Invictus to specifically identify multiple trap geometry configurations that
can be mapped along the basin margin fault.
These “String of Pearls” play types possess similar
characteristics to prolific interior rift basin petroleum systems in Uganda,
Kenya, and South Sudan.
This has provided management with increased confidence
regarding a sizeable increase in the prospective resource estimate.
The seismic data will now undergo interpretation, which
will enable Invictus Energy to identify and mature additional prospects and
leads within its SG 4571 permit.
“Once the interpretation of the full dataset is completed,
we expect to add materially to the prospective resource estimate base of
Muzarabani Prospect from further prospect and lead identification within our
acreage,” said Mr Macmillan.
This process could be a market moving development, given
that it would provide some de-risking around financial parameters.
Through the IVZ’s continued geological and geophysical
studies and the results it has received, significant industry interest has
emerged in recent months ahead of the planned marketing programme to attract a
farm-out partner.
The Cabora Bassa Project encompasses the Muzarabani
Prospect, a multi-TCF conventional gas condensate target which is potentially
the largest, undrilled seismically defined structure onshore Africa. Herald
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