- Invictus Energy (ASX:IVZ) updates shareholders regarding the ongoing drilling of the Mukuyu-2 well, which is being used to explore hydrocarbon potential in the region
- The latest findings reveal that the drilling of the 12.4-inch intermediate hole section is now complete, reaching a depth of 1966 metres
- Furthermore, a higher total background gas was observed in Mukuyu-2 compared to Mukuyu-1, along with the detection of heavier hydrocarbons in mudgas
- Invictus is on track to complete the well within 50-60 days and will now drill the 8.5-inch production hole section through key formations, including the Upper Angwa and Lower Angwa
- IVZ shares are up 3.23 per cent. trading at 16 cents at 1:01 pm AEDT
Invictus Energy (ASX:IVZ) has released news regarding the ongoing drilling of its Mukuyu-2 well, which is being used to explore hydrocarbon potential in the region.
The latest findings reveal that the drilling of the 12.4-inch intermediate hole section has been completed to a depth of 1966 metres, and involved setting casing above the zones of interest, where hydrocarbons were encountered in the Mukuyu-1 well.
Furthermore, higher total background gas was observed in Mukuyu-2 compared to Mukuyu-1, along with the detection of heavier hydrocarbons (C4 and C5) in mudgas. These indicators suggest an active petroleum system in the basin, which is a positive sign for potential future discoveries.
“The early signs from Mukuyu-2 are encouraging where we have observed higher background gas and better reservoir quality,” IVZ Managing Director Scott Macmillan said.
“Casing is being set above the first zones we encountered hydrocarbons in Mukuyu-1 as we prepare to drill the 8.5-inch production hole section through the Basal Pebbly Arkose towards our primary targets in the Upper Angwa and the untested Lower Angwa formation.”
As preparations begin to drill the 8.5-inch production hole section through key formations, including the Upper Angwa and Lower Angwa, Invictus remains on track to complete the well within the forecasted 50 to 60 days.
IVZ shares were up 3.23 per cent. trading at 16 cents at 1:01 pm AEDT.