- Invictus Energy (ASX:IVZ) reports robust gas flows at its 80 per cent-owned Cabora Bassa project in Zimbabwe
- The gas exhibits fluorescence and elevated LWD resistivity in both the upper and lower Angwa reservoirs of its Mukuyu-2 well
- Invictus will drill from 3296 metres to a depth of 3750 metres through the Lower Angwa formation before conducting a wireline logging program
- The project remains on track to be completed within the previously guided timeframe of 50 to 60 days
- IVZ shares last traded at 15.5 cents
Invictus Energy (ASX:IVZ) continues to report robust gas flows at its 80 per cent-owned Cabora Bassa project in Zimbabwe, signalling potential hydrocarbon discoveries.
The company notes that the gas exhibits fluorescence and elevated LWD resistivity in both the Upper and Lower Angwa reservoirs of its Mukuyu-2 well. In some instances, these gas shows exceeded the background gas baseline by up to 157 times.
The previously untested Lower Angwa formation has also revealed strong gas shows, with some readings reaching 151 times above the background gas baseline.
The company plans to conduct a comprehensive wireline logging program once it reaches the total depth to confirm the presence of movable hydrocarbons in multiple zones.
“Results to date have been extremely encouraging through the Upper Angwa and additional positive indications of the play potential in the previously untested Lower Angwa are exciting,” IVZ Managing Director Scott Macmillan said.
“We are preparing to drill ahead following a change out of the drill bit and bottom hole assembly, and potentially deepen the well…”.
The company has currently reached a total depth of 3296 meters, and the total gas observed in the reservoirs of Mukuyu-2 is approximately four times greater than what was observed in Mukuyu-1, indicating an active petroleum system in the basin.
Invictus plans to continue drilling through the Lower Angwa formation, aiming to reach approximately 3750 metres. The project remains on track to be completed within the previously guided timeframe of 50 to 60 days.
IVZ shares last traded at 15.5 cents.