- Invictus Energy (IVZ) starts preparing for the Mukuyu-2 appraisal well in the Cabora Bassa Basin of Zimbabwe for drilling later this year
- Well services and long-lead process tendering have begun, with the company aiming to spud the well early in quarter three
- IVZ says it will use the learnings from its Mukuyu-1 well to optimise the Mukuyu-2 well design and test the multiple hydrocarbon-bearing intervals encountered
- Given the success of Mukuyu-1, the company says it has received interest from industry partners to participate in the project
- IVZ shares are up 11.54 per cent to 14.5 cents at 10:34 am AEDT
Invictus Energy (IVZ) has begun preparations to drill the Mukuyu-2 appraisal well in the Cabora Bassa Basin of Zimbabwe.
Well services and long-lead process tendering have begun, with the company targeting quarter three of this year to spud the well.
This work follows the completion of the Mukuyu-1 well, which encountered gas pay to total depth, interpreted from wireline logs and fluorescence in multiple reservoirs throughout the 900-metre interval penetrated.
Invictus said a post-well analysis of Mukuyu-1 indicated the potential for “significant” gas columns in the Pebbly Arkose and Upper Angwa formations, based on elevated pressures in interpreted gas-bearing sands above normal hydrostatic gradient.
Mukuyu-2 has been designed to test the deeper potential in the remaining Upper
Angwa formation, which was not encountered in the previous campaign due to it being thicker than pre-drill estimates.
Invictus said it would apply the learnings from Mukuyu-1 to optimise the new well design for the drilling conditions encountered and the ability to evaluate multiple hydrocarbon bearing intervals.
On the back of positive results from Mukuyu-1, the company said it had received interest from industry partners to participate in the Cabora Bassa project.
Invictus is considering farming down an interest across the project area or on an individual licence basis to manage forward exploration and appraisal work and future development programs.
Additionally, the company is looking to acquire seismic data to mature multiple leads along the proven play on-trend to the east of Mukuyu and additional leads along the highly prospective Basin Margin play.
Seismic survey design and planning are well advanced, and data acquisition is anticipated in quarter two of 2023, incorporating the company’s experience from the CB21 seismic survey acquisition.
IVZ shares were up 11.54 per cent to 14.5 cents at 10:34 am AEDT.