• Final reprocessed 2D seismic dataset received
• Data quality is excellent, improving definition over the Giant Mzarabani Prospect and basin margin fault
• New Basin Margin opportunities now evident on reprocessed seismic data
• Analogous to “String of Pearls” discoveries in East Africa Rift System

Invictus Energy Limited has received the final processed seismic data from the processing contractor for its Cabora Bassa Project.

Invictus Managing Director Scott Macmillan commented:
“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 Mzarabani structure and particularly along the basin margin fault is very encouraging. The reprocessed data has provided evidence of multiple trap geometry configurations that can be mapped along the basin margin fault. These “String of Pearls” play types (3-way structural closures against the basin margin fault) have been particularly successful in other interior rift basins in Africa.

The seismic data will now undergo interpretation which will enable us to identify and mature the additional prospects and leads within our SG 4571 permit. Once the interpretation of the full dataset is completed, we expect to add materially to the prospective resource estimate base of the Mzarabani Prospect at 3.9 Tcf + 181 million barrels* of gas-condensate (gross mean unrisked) from further prospect and lead identification within our acreage.”

* Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relates to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons. Prospective Resource assessments in this release were estimated using probabilistic methods in accordance with SPE-PRMS standards.

The resources referred to above were announced on 5 November 2018 and were independently estimated by Netherland, Sewell and Associates, Inc (NSAI). The Company is not aware of any new information and that all material assumptions and technical parameters underpinning prospective resource continue to apply and have not materially changed.

“Following on from the seismic interpretation work, a Final Independent Prospective Resource Report encompassing the entire SG 4571 area will be delivered. The Company will continue with its geological and geophysical studies including additional basin modelling and a further resource estimate leading into a planned marketing programme to attract a farm-in partner. We look forward to maturing the additional potential within our acreage and continue to build on our significant prospective resource inventory.”

Cabora Bassa Project
The Cabora Bassa Project encompasses the Mzarabani Prospect, a multi-TCF conventional gas-condensate target which is potentially the largest, undrilled seismically defined structure onshore Africa. The prospect is defined by a robust dataset acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.