Page 18 - AfrOil Week 41 2022

AfrOil NEWS IN BRIEF AfrOil

Eni has had operations in Algeria since 1981.
In late July, Eni and Sonatrach made a further
discovery in the Sif Fatima II concession in the
Berkine North Basin. In September, the Ital-
ian group acquired BP’s operations in Algeria,
including In Amenas and In Salah, the most
important gas production fields in the country.
Eni also signed a new production sharing con-
tract (PSC) for blocks 404 and 208 in the Berkine
basin with Sonatrach, Oxy (US), and TotalEner-
gies (France).
A few months back, Algeria and Italy final-
ised a major energy deal where the former will
provide additional 4bn cubic meters of gas to
help the European country face gas challenges
elevated by Russian gas supply cuts.
bna/IntelliNews, October 12 2022
Invictus Energy’s Cabora at Mukuyu, announced in an ASX release on & drilling schedule update: The Baobab-1 well-

Bassa Basin Margin July 5, 2022, taking the estimated total prospec- pad construction is underway and scheduled for
tive resource base for the Cabora Bassa project completion to allow for the rig move and subse-
Area holds 1.2bn barrel portfolio to a combined 5.5bn boe (gross mean quent drilling to commence immediately follow-
unrisked) (1).
ing the completion of the Mukuyu-1 well, which
prospective oil resource Cabora Bassa project, Invictus’ net share of the take approximately 50 to 60 days to drill and
Based on the Company’s 80% share in the spudded on 23 September and is prognosed to
Invictus Energy has provided an update on the Basin Margin area prospective resource would evaluate.
activities of its 80% owned and operated Cabora equate to 937mn barrels of oil (pre 10% SWFZ Baobab-1 will be drilled as a vertical well to
Bassa project in Zimbabwe. back in right) and 4.4bn boe for the total pro- test multiple stacked Cretaceous and younger
Invictus has received an updated Independ- ject area. This substantial resource potential in targets, within four-way and three-way dip clo-
ent Technical Report from ERCE estimating the Basin Margin play places it at comparable sures, against the southern basin bounding rift
substantial additional resource potential at scale to the prolific East African Rift System that fault. Baobab displays similar structural charac-
Cabora Bassa, in the Basin Margin Area of the resulted in material discoveries in the “String of teristics to the basin opening Ngamia discovery
recently assigned Exclusive Prospecting Order Pearls” plays in Kenya and Uganda. drilled in the Lokichar Basin in Kenya.
1849. ERCE estimates the gross mean recover- Note Prospective Resource Estimate for Ngamia-1 successfully tested a stacked three-
able conventional potential of the Basin Margin Msasa prospect was determined by Getech. The way dip closure which found pay at multiple
Area at a combined 1.17bn barrels of conven- Company confirms that there have not been any horizons and resulted in subsequent discoveries
tional oil on a gross mean unrisked basis. The material changes to the resource estimate for the in the “String of Pearls” along the basin margin.
prospective resource estimate includes the Bao- Msasa prospect since the release of the updated Managing Director Scott Macmillan com-
bab, Acacia, Marula, Mukamba and Mimosa Prospective Resource Estimate on 1 July 2019 mented: “The material prospective resource
prospects but excludes additional leads along the The ERCE prospective resource estimate estimate for the five drill-ready Basin Margin
basin margin and central fairway area. incorporates new data from the Cabora Bassa prospects confirms the high potential and qual-
A summary of the report’s findings for the 2D Seismic Survey (CB21 Survey) which has ity of our acreage and prospect and lead inven-
Basin Margin prospects for an oil case, as of provided the Company with a material portfolio tory. Prior to the acquisition of the CB21 Seismic
October 3, 2022, is summarised below. of high potential prospects and leads (Figure 1). Survey we recognised the potential for the Basin
EPO 1849, Cabora Bassa Project – Oil Case, The CB21 Survey firmed up the potential for Margin to evolve into a substantial play due to
Gross Case Unrisked Estimated Prospective multiple stacked hydrocarbon bearing zones the structural similarities we observed with the
Resources in million barrels of oil – 100% gross in the newly identified Basin Margin play, as East Africa Rift ‘String of Pearls’ play. Invictus
(Source: ERCE as at October 3, 2022). announced in an ASX Release on 2 September has built and matured a high quality and mate-
Prospect Baobab: Low 92, Best 184, High 443, 2022. The Basin Margin play will initially be rial portfolio of prospects and leads from a con-
Mean 243. tested by the Baobab-1 well which displays sim- ceptual play initially identified on sparse vintage
Prospect Acacia: Low 116, Best 320, High ilar characteristics to the play opening discover- data to multiple drill ready prospects with 1.2bn
1,071, Mean 509. ies in the Lokichar Basin in Kenya and Albertine barrels of potential. Our basin master position
Prospect Marula: Low 31, Best 71, High 174, Graben in Uganda. encompassing the entire conventional oil and
Mean 92. ERCE has estimated Prospective Resources gas play fairway, multiple play types to target
Prospect Mukamba: Low 77, Best 183, High using both a conventional oil case and a gas-con- and over 5.5bn boe potential provides us with
467, Mean 246. densate case as there is hydrocarbon phase substantial running room. Subject to making
Prospect Mimosa: Low 23, Best 60, High 159, uncertainty associated with the source rock dep- an opening discovery with either Mukuyu-1 or
Mean 81. ositional type and thermal history. Baobab-1, it could potentially provide us with
Total gross (100%) 1,171. The gas phase case Prospective Resource future discoveries on a large scale within the
Total net IVZ (80%) 937. summary is presented in the Notes in Figure 3. basin.”
This adds to the prospective resource upgrade Baobab-1 wellpad construction in progress Invictus Energy, October 6 2022

P18 www. NEWSBASE .com Week 41 13•October•2022