IVZ kicks off 2D seismic program

Our 2020 Energy Pick of the Year, Invictus Energy (ASX: IVZ) has just kicked off its 2D seismic program across the eastern portion of its gas project in Zimbabwe.

The seismic program will be over ~400-line kilometres with the primary aim of firming up drill targets and adding to IVZ’s existing gross mean unrisked 5.5 billion barrel of equivalent prospective resource.

IVZ expects the program to be completed in July and processing/interpretation of the seismic data to be done throughout the second half of 2023.

The CB23 seismic campaign is anticipated to be completed in July and will be followed by processing and interpretation to take place over H2 CY2023.

What’s next for IVZ?

1) Preparation for drilling Mukuyu-2 in Q3 this year.

IVZ has the Exalo 202 rig warm stacked meaning it can mobilise the rig to site relatively quickly.

At the moment the drilling contractor is completing maintenance and upgrade works, preparing the drill rig for Mukuyu-2.

2) 2D Seismic programs across eastern part of project.

IVZ has now kicked off its 2D seismic program.

We expect the program to be run in the background while IVZ drills its Mukuyu-2 well.