More positive news for Invictus gas company

by | Oct 9, 2021 | Business | 0 comments


Nevanji Munyaradzi Chiondegwa

Gas and oil exploration company Invictus Energy has provided an update on the activities on its 80 percent owned and operated Cabora Bassa Project in Zimbabwe.

The update centred on the ongoing seismic campaign and its intended listing on the Over the Counter QB listing of its shares.

On Seismic Campaign Update, the company said,“The Cabora Bassa 2021 seismic survey(‘CB21 Survey’) campaign is progressing well with 220 km of data recording and 240 km of layout completed to date.

The data quality and density being acquired from the CB21 Survey is excellent and a step change from the previous Mobil survey conducted in 1990.”

The seismic survey is one form of geophysical survey that aims at measuring the earth’s (geo-) properties by means of physical (-physics) principles such as magnetic, electric, gravitational, thermal, and elastic theories.

It is based on the theory of elasticity and therefore tries to deduce elastic properties of materials by measuring their response to elastic disturbances called seismic (or elastic) waves. Seismic surveys are primarily used for oil and gas exploration though they can also help locate ground water and are used to investigate locations for landfills, and characterize how an area will shake during an earthquake.

The update went on to highlight how The Health Safety and Environmental impact performance has been exceptional, and the project has now exceed 87,000 hours without a Lost Time Injury (LTI).

The seismic data Quality Control and processing has commenced and ongoing.

Seismic data processing QC Processing routines generally fall into one of the following categories: enhancing the signal-to-noise ratio; providing sound velocity information in the various substrates; collapsing diffractions and placing dipping events in their true subsurface locations (migration); and increasing resolution (wavelet processing).

The Company said it is also finalising its US based OTCQB listing following significant investor interest from North America.

The OTCQB is also called “The Venture Market,” and is the middle tier of the over-the-counter (OTC) market for U.S. stocks and lists primarily early-stage and developing companies in the U.S. and international markets.

It was created in 2010 and consists mainly of early-stage and developing US and international companies that are not yet able to qualify for the OTCQX but are not as speculative as the lowest-tier Pink Sheets.


The Company will trade on the OTCQB market under the ticker IVCTF.

The Company is also in the process of seeking DTC eligibility from The Depository Trust and Clearing Corporation (‘DTC’). DTC eligibility will ensure a more liquid and transparent market for the Company’s common shares and enhance our visibility within North America.

OTCQB companies must meet certain minimum reporting standards, pass a bid test, and undergo annual verification.