A&D marketing for the oil and gas industry



Onshore / Exploration

Envoi has been engaged by Australian based ASX-listed Invictus Energy, to assist in its search for an experienced partner to join them in the exploration of their large 1,011 km2 SG 4571 Permit situated in the Cabora Bassa Basin of northern Zimbabwe. This forms the southern part of the East African Rift system, the northern part of which contains the significant discoveries in Kenya and Uganda made during the last decade. Invictus is the operator of the SG 4571 Permit through its 80% ownership of Geo Associates, awarded the Permit in 2017. The remaining 20% interest is owned by One-Gas-Resources, a well-regarded local Zimbabwean partner.

Since acquiring an interest in Geo Associates in 2018 and being authorised as an international investor, Invictus has reprocessed some 800 km of the legacy 2D seismic in the Permit and has engaged Getech to reprocess the gravity and magnetic datasets. They have conducted basin modelling that has defined large Permo-Triassic ‘Karoo’ oil and gas play potential in the region that includes thick interbedded shales comprising both seals and organic rich oil-prone source rocks modelled to be within the wet gas and oil generation windows present day. These are estimated capable of generating more than enough oil and gas to charge the stacked Upper and Lower Angwa reservoir sands mapped in the primary Mzarabani prospect, a huge 4-way dip closure with an aerial extent of >200km2. The recently reprocessed seismic data has also identified a new basin margin play (3-way closure along the southern basin bounding fault) similar to the successful discoveries in the East African Rift System. Deposited as braided river and floodplain sand deposits, these reservoirs have excellent porosities of around 20% and permeability of up to 1,000 mD where historically measured in surface outcrops by Corelabs when Mobil explored a 11,500 square mile area of the Zambezi River Valley between 1989 and 1993.

Using new and existing data (including the previously unavailable Mobil data), Invictus has combine modern processing techniques to confirm and enhance the interpretation of the potentially massive 4-way dip Mzarabani prospect in their Permit. Although originally mapped by Mobil this was never drilled due to the perceived frontier basin risk and deteriorating political situation at that time.

A recent independent CPR by Netherland Sewell commissioned by Invictus of the Mzarabani prospect estimates that the gross mean unrisked recoverable resource potential from the primary target alone could contain as much as 3.9 Tcf gas and 181 bbls condensate. As a result, the Mzarabani prospect is believed to be one of, if not the largest undrilled seismically defined structure onshore Africa. Similarities are drawn from other large discoveries made in the Permo-Triassic Karoo sediments in East Africa including the Calub and Hilala discoveries in the Horn of Africa, the multi-Tcf discoveries Mbuyu accumulation in Tanzania and the billion-barrel Tsimiroro and Bemolanga discoveries onshore Madagascar.

Having fulfilled all the work obligations of Permit SG 4571’s existing exploration terms, Invictus is in the process of negotiating a new PSC expected to be awarded in the summer of 2019 and involving two new 4 year exploration terms with drilling likely to be required before mid-2023 at an estimated cost of around US$ 10 million.

Even though Invictus are fully funded for forward work programme they wish to engage with an experienced onshore partner and are therefore offering a material share of their 80% interest in the Permit return for funding the planned exploration well.