Australia Stock Exchange-listed Oil and gas exploration company Invictus Energy Limited has commenced Seismic data acquisition and is expected to be complete mid-August with its data processing contract awarded to Earth Signal Processing Ltd, the company’s managing director Scott MacMillan said.
According to MacMillan the contract to process the data acquired in the CB23 program has been awarded to Earth Signal Processing Ltd (“Earth Signal”).
Earth Signal processed the CB21 survey for Invictus and this prior experience will enable an efficient processing workflow and provide a seamless, high-quality dataset across the basin.
He said work is progressing according to plan on the CB23 2D seismic acquisition program being carried out by Polaris Natural Resource Development Ltd (“Polaris”) on Invictus’ behalf. He said a total of 425km of lines have been successfully and safely cleared and the layout of receiver nodes is well underway.
The first recorded data has been acquired and the survey is expected to be complete in mid-August. The program is a key part of the Company’s Phase 2 exploration campaign in the Cabora Bassa Basin, with the new seismic lines tying into existing legacy data, including Invictus’ 2021 survey.
“The Company is pleased to have already made significant progress with the seismic data acquisition campaign in EPO 1848 and EPO 1849.
“Seismic acquisition has commenced across several exciting leads on trend from Mukuyu and we anticipate maturing a number of these to drill-ready prospects, which will add to our already world-class exploration portfolio and substantial prospective resource base.
“We are extremely pleased with the performance of Polaris and the local field crew who completed 425km of seismic line preparation ahead of the data acquisition, which will ensure the campaign is completed seamlessly,” he said.
The data will provide a denser seismic grid over leads identified in the east of the basin and along the basin’s southern margin. This, along with data and insights from Mukuyu-1 and the upcoming Mukuyu-2 well, will be used to mature these leads as future drilling candidates, which is important to clean energy technologies.