ZIMBABWE: Cabora Bassa Project 2D Seismic to Commence this Week

The preparations for the seismic data acquisition have progressed well with 400 km of line clearance completed ahead of the commencement of data acquisition. The maintenance and checks have been completed on the vibroseis units and mobilization to the field camp in Muzarabani is commencing.

Data recording is scheduled to commence in the first week of September with the shooting of an initial test line to determine the optimum data acquisition parameters to suit the objectives of the program.

By utilizing the latest generation STRYDE wireless nodes which are less than 25% of the weight of comparable systems makes the laying out and retrieving of the wireless nodes significantly easier and cheaper and thus the survey can utilize a swath shot methodology. This shooting methodology will in essence allow the Company to double the seismic data coverage by providing an effective line spacing of 800-900m and provide a high-resolution subsurface dataset at minimal incremental cost.

The use of the STRYDE nodal system also results in a lower environmental footprint as a result in the reduction of vehicles and personnel required to deploy the nodal system compared to cable system.

Drilling Program Update
The Company is also pleased to have completed the tendering process for long lead drilling items (wellhead and casing) which is awaiting formal award. The rig selection process is advancing and the Company is in detailed discussions with shortlisted rig providers as well as drilling services providers. The process is expected to be complete by the end of the September quarter which will then be followed with the formal award of drilling and services contract.