Invictus given the nod to explore the whole Muzarabani oil fields
Invictus Energy has been given the right to explore the whole of Muzarabani oil fields with the company’s acreage now covering the entire conventional oil and gas play fairway in Cabora Bassa Basin.
Rudairo Mapuranga
According to Invictus Managing Director Scott McMillan, the Exploration Licences cover a combined area of approximately 360,000 hectares, with EPOs 1848 and 1849 each covering an area of approximately 130,000 hectares and the current Special Grant 4571 licence area covering a further 100,000 hectares.
“We are extremely pleased to have completed the assignment of the exploration rights which sees our footprint cover the entire conventional oil and gas play fairway in the Cabora Bassa Basin,” he said.
McMillan said, this newly expanded basin master position, combined with the high-quality seismic data acquired in the CB21 Survey, has provided the company with a material portfolio of high potential prospects and leads. He added saying, multiple drill-ready prospects in the newly identified Basin Margin play have been mapped along the southern basin bounding fault, which displays similarities to the East Africa Rift “String of Pearls” that resulted in material discoveries in the Lokichar Basin in Kenya and Albertine Graben in Uganda.
“In relation to our first well Mukuyu-1, the rig maintenance is nearing completion and the final outstanding well services equipment will arrive in the coming days,” McMillan said.
He said, an Independent Prospective Resource estimate for the Basin Margin area including the Baobab prospect is nearing completion and will be released once finalised.
“Following the rig acceptance once the commissioning and testing have been completed it will allow for the spud of Mukuyu-1, the first well in our high-impact exploration campaign which will then be followed by Baobab-1.
“Subject to making an opening discovery with either Mukuyu-1 or Baobab-1, it could potentially provide Invictus with future discoveries on a large scale within the basin.”