Invictus Awards Polaris Seismic Contract for Cabora Bassa Project

Invictus Energy has contracted a 2D seismic survey as part of the Phase 2 exploration campaign in the Cabora Bassa Basin. The survey aims to mature several leads identified within the acreage to drillable prospects, building on the success of the Mukuyu-1 well, which confirmed a working hydrocarbon system and the presence of light oil, gas-condensate, and helium in the basin. Preparations are also underway for the Mukuyu-2 appraisal well, targeting multiple hydrocarbon intervals encountered in Mukuyu-1 and aiming to confirm a commercial discovery. The company's mudgas analysis revealed the presence of helium gas of ~0.1%, which it claimed to be a commercial concentration. However, we see this level of helium to be marginal at best, especially in a remote and politically risky region.

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