Invictus Energy Limited, which is exploring the Mzarabani area, has today produced more information on the availability of oil Zimbabwe.
Invictus announced that the findings of an independent report completed by Netherland, Sewell and Associates, Inc (NSAI) estimating substantial resource potential at the Cabora Bassa Project.
“The Independent Report by NSAI has resulted in net mean recoverable conventional potential of 680 million barrels of oil equivalent consisting of 3.1 Tcf (Trillion cubic feet) and 145 million barrels of condensate net to Invictus.”Invictus Managing Director Scott Macmillan said.
“The size of the primary Upper Angwa target alone in Mzarabani Prospect places us in Giant scale field potential.”
Invictus had promised to announce on the discovery of the fossil fuels in the Mzarabani area, which is also known as the SG 4571.
“This estimate excludes the additional prospective horizons above and below the Upper Angwa in the Mzarabani structure as well as further plays and leads within the SG 4571 area which have the potential to add material prospective resources to the Cabora Bassa Project,” Macmillan said.
“The high side estimate of over 2.2 billion boe gross (barrel of oil equivalent) is enormous and confirms Mzarabani as potentially the largest undrilled seismically defined structure onshore Africa.”
“Our technical work program continues to highlight the enormous potential of the world class Mzarabani Prospect in our Cabora Bassa Project. We look forward to maturing the additional potential within our acreage and continue to build on our significant prospective resource inventory.”
The Government last week said it will be working closely with Invictus on the Mzarabani area to ensure that the company sinks an exploration well by mid-2020.
Oil exploration was motivated when the fossil fuel was discovered in other African countries with the same characteristic features of Mzarabani.