Zimbabwe oil prospects increase

Zimbabwe oil prospects increase
Published: 15 April 2019 (139 Views)
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.

- the herald

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

South Africa's Zimbabwe dilemma

by Ringisai Chikohomero | 18 April 2019 | 54 Views

Tajamuka leader speaks on Gono Presidency

by Mandla Ndlovu | 18 April 2019 | 78 Views

Shonas invade MDC Bulawayo province

by Mandla Ndlovu | 18 April 2019 | 70 Views

Temba Mliswa talks tough on NRZ managers

by Mandla Ndlovu | 18 April 2019 | 62 Views

PROPHECY: Violent protests to oust Mnangagwa

by Mandla Ndlovu | 18 April 2019 | 84 Views

Renewed bid to stop MDC's elective congress

by Staff reporter | 18 April 2019 | 46 Views

'MDC has no hand in sanctions'

by Staff reporter | 18 April 2019 | 39 Views

MDC members demonstrate against Chamisa

by Staff reporter | 18 April 2019 | 53 Views

Zimbabwe garage sale returns to South Surrey

by Tracy Holmes | 18 April 2019 | 49 Views

Mnangagwa says Zimbabwe corruption runs 'deep and wide'

by Staff reporter | 18 April 2019 | 52 Views

MDC Independence message

by Jacob Mafume | 18 April 2019 | 43 Views

Zimnat comes to the aid of Melfort Old People's Home

by Staf reporter | 18 April 2019 | 46 Views

10 Zimbabweans killed in head-on collision in South Africa

by Staff reporter | 18 April 2019 | 27 Views

PHOTO: Drama as Mutodi refuses to sit next to Mangwana

by Mandla Ndlovu | 18 April 2019 | 47 Views

MDC facing internal and external turmoil

by Ndaba Nhuku | 18 April 2019 | 39 Views

Happy Independence day 2019, Zimbabwe

by Staff reporter | 18 April 2019 | 115 Views

Belarus' aeroplane with food for Zimbabweans arrives

by Mandla Ndlovu | 18 April 2019 | 177 Views

Vuzu parties trigger storm

by Staff reporter | 18 April 2019 | 166 Views

We've failed to guard our independence

by Harry Peter Wilson | 18 April 2019 | 119 Views

Trump congratulates Zimbabwe

by Staff reporter | 18 April 2019 | 181 Views

'No top positions for Zanu-PF returnees'

by Staff reporter | 18 April 2019 | 153 Views

Man kidnaps his in-laws, jailed

by Staff reporter | 18 April 2019 | 126 Views

Zimbabwe Bird is part of the problem, says Chamisa

by Staff reporter | 18 April 2019 | 112 Views

Mnangagwa warns businesses not to invite price controls

by Staff reporter | 18 April 2019 | 96 Views

Gumede appointed Bosso President

by Staff reporter | 18 April 2019 | 101 Views

Boarding schools hike fees

by Staff reporter | 18 April 2019 | 105 Views

Beitbridge Border staff braces for holiday influx

by Staff reporter | 18 April 2019 | 85 Views

Pauline claims cyber-attacks

by Staff reporter | 18 April 2019 | 60 Views

Chiyangwa transactions haunt new Zifa executive

by Staff reporter | 18 April 2019 | 88 Views

Meat shortages loom

by Staff reporter | 18 April 2019 | 100 Views

Prison officer smokes out goats thief

by Staff reporter | 18 April 2019 | 88 Views

Zimbabwe's version of disaster capitalism, couched as resilience

by Takura Zhangazha | 18 April 2019 | 77 Views

Clerk tampers with court records

by Staff reporter | 18 April 2019 | 82 Views

Mesi roped into anti-drug campaign

by Staff reporter | 18 April 2019 | 73 Views

State moves to impeach witness for siding with Parirenyatwa

by Staff reporter | 18 April 2019 | 83 Views

MDC MP Hwende seeks removal from remand

by Staff reporter | 18 April 2019 | 78 Views