Invictus Energy Ltd. received a renewed environmental impact assessment from Zimbabwe’s Environmental Management Agency (EMA) for Cabora Bassa basin, clearing the way for the CB23 seismic survey and Mukuyu-2 appraisal well.
Mukuyu-2 is a follow up to the play-opening Mukuyu-1/ST1 well which confirmed a working hydrocarbon system in the basin and the presence of light oil, gas-condensate, and helium, the company said May 18. The well is anticipated to spud early in third-quarter 2023.
In May, Invictus launched a share purchase plan offer of up to $10 million to fund exploration and appraisal activities in the basin (OGJ Online May 3, 2023).
The onshore Cabora Bassa basin lies in the Zambezi Valley in Muzarabani, 300 km northeast of Harare, Zimbabwe’s capital. The 250,000-acre SG 4571 license is in the second exploration period which runs to June 2024. Prospective resources are 20 tcf of gas and 845 million bbl of conventional gas-condensate.
Invictus is operator with 80% interest.