Kwedu News
Australian energy firm Invictus Energy Limited has officially announced discovery of an estimated 184 million prospective barrels of oil condensate at its Cabora Bassa project in northeastern Zimbabwe.
The finding follows the company’s previous gas discovery at the Mukuyu 2 drill site in Mashonaland Central Province of Zimbabwe in December 2023.
The project’s total prospective resources amount to 2.9 trillion cubic feet of gas and 184 million barrels of oil condensate, with Invictus holding an 80% share.
This, as the company says, translates to 2.3 trillion cubic feet of gas and 147 million barrels of oil condensate for the company.
Invictus has identified eight other key prospects in the eastern Cabora Bassa basin, with a new Musuma prospect estimated to contain 1.17 trillion cubic feet of gas.
The company plans to focus its next exploration drilling campaign on this prospect, in addition to further appraisal drilling in the Mukuyu gas field.
The figures are based on estimates methods and adhere to Society of Petroleum Engineera (SPE-PRMS) standards, ensuring a reliable and consistent estimation of hydrocarbon resources.
With a significant surplus of US$8.95 million after drilling investments, Invictus is well-positioned to progress with its exploration and development plans.
The company’s managing director, Scott Macmillan, expressed enthusiasm for the results, highlighting the potential for further material plays within Invictus’ acreage.
