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Polaris wins Cabora Bassa Basin seismic contract in Zimbabwe

Invictus Energy has provided an update on the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Invictus Awards Seismic Acquisition Contract to Polaris Natural Resources

Invictus, following the recent signing of the PEDPA with the Republic of Zimbabwe, has awarded Polaris Natural Resources, Canada’s longest standing seismic company, a contract to provide acquisition services for its first 2D seismic program in the Cabora Bassa Basin. Polaris has conducted over 1,000 seismic projects since 1996 and introduced the first ‘low impact seismic crew’ into Africa in 2008. Polaris has conducted over 15 projects in East Africa and has been well accepted in all communities where they have operated. Polaris will also deploy the world’s newest and smallest wireless recording nodes and receivers.

 ‘‘Polaris is very pleased to support Invictus on this world class project. The combination of technologies being employed represent not only the lightest seismic footprint possible, but also allows for very fast and high resolution data acquisition,’ Bill Mooney, Polaris CEO, stated

The Company intends to conduct, process, and interpret a minimum of 400 line kms of 2D seismic in order to refine the Mzarabani-1 drilling location and well path and identify additional prospectivity for the upcoming drilling campaign. The proposed seismic survey will be conducted with a minimal environmental footprint and utilise existing roads and tracks wherever possible.’

The Company is also pleased to have Barry Meikle join the team as Seismic Project Manager. Barry is based in Zimbabwe and has extensive experience in onshore seismic acquisition projects in PNG with Total and Interoil, and project management expertise with oil field service companies in East Africa and is a valuable addition to the Invictus team.

Polaris will begin mobilising the seismic equipment and personnel to Harare in the coming weeks to undergo preparation for the acquisition before deploying to the field.

 ‘‘Our exploration program is on track, and the significant amount of preparatory work that we have undertaken is paying off. We are using a very experienced contractor and have put in place a very experienced team to run the program. The seismic program will enable us to refine the Mzarabani-1 target defined from the existing seismic dataset and help us fill our prospect inventory ahead of our basin opening drilling campaign. We are very excited to get our exploration program underway,’’ Invictus Managing Director Scott Macmillan commented:

Community and Local Content

The Company continues to engage and meet with our stakeholders, and we remain committed to hiringlocal and national experts, and to procuring products and services in the region and throughout Zimbabwe. In keeping with the Company’s strong commitment to community employment, Polaris’s corporate goals are to implement an 85% local content policy on all of its operations regarding employment, supplies and consumables. The campaign will involve the training and deployment of approx. 80 local field crew for the seismic acquisition program.

About the Cabora Bassa Project

The Cabora Bassa Project encompasses the Mzarabani Prospect, a multi-TCF and liquids rich 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 inthe early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.

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