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  • Invictus Energy (IVZ) deepens the Mukuyu-1 well within Zimbabwe’s Cabora Bassa Basin to a measured depth of 3923 metres
  • The company deepened the well after encountering elevated gas shows in multiple zones, validating the presence of a conventional working hydrocarbon system in the basin
  • Invictus began wireline logging but was unable to pass a 3030-metre depth due to “deteriorating” borehole conditions, making logging “extremely risky”
  • As such, the company has decided to sidetrack the Mukuyu-1 well to complete its evaluation and obtain a fluid sample of the primary targets
  • Company shares are down 14.29 per cent to trade at 27 cents at 11.19 am AEDT

Invictus Energy (IVZ) will sidetrack its Mukuyu-1 well in Zimbabwe’s Cabora Bassa Basin after encountering “deterioration” in borehole conditions while completing wireline logging.

The Mukuyu-1 well reached a total depth of 3618 metres earlier this month, encountering elevated gas shows in multiple zones, and evidence of hydrocarbon charge validated the presence of a conventional working hydrocarbon system within the Cabora Bassa Basin.

Invictus aimed to complete a wireline logging program and deepen the well to test the deeper potential of the remaining Upper Angwa and Lower Angwa formations.

The company has now deepened the Mukuyu-1 well to a measured depth of 3923 metres, where it continued to encounter reservoir units with elevated gas shows and fluorescence.

However, the wireline logging tools were unable to pass below a depth of around 3030 metres measured depth, which is where the primary fluid sampling targets are located. IVZ said this was due to deteriorating borehole conditions over the last few days while waiting for the wireline formation testing tool to arrive.

“Current borehole conditions make logging the existing hole section extremely risky with an
increased likelihood of losing tools and not meeting the objectives of the well,” Managing Director Scott Macmillan said.

As a result, Invictus has decided to sidetrack the Mukuyu-1 well to complete its evaluation and obtain a fluid sample.

Sidetracking is where a secondary wellbore is drilled away from the original wellbore to bypass an unusable section of the well or explore a proximal geological feature.

Overall, Invictus said the results so far have been “extremely encouraging” and it plans to suspend the sidetrack well for future testing.

Company shares fell 14.29 per cent to trade at 27 cents at 11.19 am AEDT.

IVZ by the numbers
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