Invictus Energy (IVZ) has secured casing, wellheads and ancillary long lead items for a two-well drilling program at its 80 per cent owned and operated Cabora Bassa project in Zimbabwe.
The company says it has completed an extensive tendering exercise for the integrated well services contract including cementing, directional drilling, logging while drilling, drilling fluids and wireline services.
It goes on to say European onshore drilling company, Exalo Drilling, will be formally awarded the contract shortly.
The project encompasses the Muzarabani prospect, which the company says is potentially the largest, undrilled seismically defined structure onshore Africa. The Muzarabani-1 well will target prospective resources of 8.2 trillion cubic feet and 247 million barrels of conventional gas condensate.
Drilling at the project is anticipated to commence in May of this year, following finalising the well services contract award and working to execute the binding rig agreement with Exalo for the drilling rig.
The Company is advancing the current exploration program with the acquisition of infill seismic data for a planned basin opening drilling campaign in the first half of this year.
IVZ shares last traded at 13 cents on January 4 – Harare