ASX-listed Invictus Energy announced significant advancements in their exploration efforts within the Cabora Bassa Basin, Zimbabwe.
Following the CB23 seismic survey, the company has identified eight new prospects with a potential 2.9 trillion cubic feet of gas and 184 million barrels of condensate.
The focus of Invictus Energy's upcoming exploration will be on the Musuma prospect, estimated to hold 1.17 Tcf of gas, alongside further appraisal drilling in the Mukuyu gas field.
These efforts aim to test the basin’s eastern gas prospectivity.
Scott Macmillan, Managing Director of Invictus Energy, expressed optimism, stating, "We're extremely pleased with the results from the CB23 seismic survey which has identified material prospectivity in the eastern portion of our acreage."
"Exploration success at these prospects would prove up a further material play within Invictus' acreage."
The seismic data indicated multiple potential gas volumes at various stratigraphic levels, allowing the utilisation of vertical wells for easier exploration.
The Musuma prospect is poised to be a major testing ground in 2025, given its promising seismic amplitude support.
Invictus Energy's continued efforts in the Cabora Bassa Project highlight their strategy to unlock significant value through early gas monetisation and to advance exploration targets in the rich gas and condensate zones of the basin.
Invictus Energy is an independent upstream oil and gas company focused on energy resources in sub-Saharan Africa.
Its asset portfolio consists of 360,000 hectares within the Cabora Bassa Basin in Zimbabwe, SG 4571 and EPOs 1848/49 contain the Mukuyu and multiple Basin Margin prospects.