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- Invictus Energy (IVZ) selects a location for the Mukuyu-2 appraisal well at its flagship oil and gas acreage in Zimbabwe
- The well is tipped to be spud in the third quarter of this year with well construction underway
- The well seeks to test the viability of the untested Upper Angwa and Lower Angwa reservoirs undermining the acreage
- Invictus shares closed 12.5 per cent higher, trading at 13.5 cents
Invictus Energy (IVZ) has selected a location for the Mukuyu-2 appraisal well at its flagship oil and gas acreage in Zimbabwe.
Mukuyu-2 is following up on the first Mukuyu well and resides 6.8 kilometres northeast of Mukuyu-1.
The well seeks to test the viability of the untested Upper Angwa and Lower Angwa reservoirs undermining the acreage, which Invictus believes may hold moveable hydrocarbons.
The well is tipped to be spud in the third quarter of this year with well construction underway. An Exalo 202 rig will be brought onsite by September.
“Drilling plans have been completed as we prepare to follow up from our highly successful basin opening Mukuyu-1/ST-1 well,” IVZ Managing Director Scott Macmillan said.
“Mukuyu-2 will be located approximately 6.8km north-east from Mukuyu-1 and over 400m updip at the primary Upper Angwa target, which provides the [opportunity] to penetrate the untested Lower Angwa reservoirs in this location.”
Mukuyu-1 has proved the presence of light oil, gas, and even helium in the Cabora Bassa Basin. Invictus’s permit area is one of the largest oil and gas tenements in the country.
However, the company demobilised the Mukuyu-1 rig back in January this year.
Invictus shares closed 12.5 per cent higher, trading at 13.5 cents.
