Invictus remains bullish about Muzarabani oil prospects

Invictus Energy Managing Director Scott Macmillan
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HARARE -Zimbabwe’s Muzarabani oil project has the potential to produce 3.9 trillion cubic feet (tcf) of gas and 181 million barrels of conventional gas, Australian-listed firm, Invictus Energy, confirmed this morning.

An independent report completed by Netherland, Sewell and Associates, Inc. (NSAI), states the Upper Angwa target shows the country has potential for net mean recoverable conventional potential of 850 million barrels of oil equivalent, consisting of 3.9 Tcf and 181 million barrels of condensate or conventional gas.

Invictus managing director Mr Scott Macmillan commented: “In simple terms, the 3.9 Tcf of natural gas can give the country 500 megawatts of power for 40 years and the 181 million barrels of conventional gas can give us enough fuel for the next 20 years at current consumption levels of 25,000 barrels a day.”

Invictus says the size of the primary Upper Angwa target alone in Muzarabani Prospect places Zimbabwe in “giant scale field potential.”

Significant additional potential will be evaluated in post-seismic reprocessing results in the first quarter of 2019.

“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,” said Macmillan.

“The high side estimate of over 2.2 billion boe gross is enormous and confirms Mzarabani as potentially the largest undrilled seismically defined structure onshore Africa,” he said.