Join our daily newsletter At The Bell to receive exclusive market insights
- Invictus Energy (IVZ) encounters multiple zones of fluorescence and elevated gas shows at its Mukuyu-1 sidetrack well in the Cabora Bassa Basin of Zimbabwe
- Drilling has reached a total depth of 3603 metres after a slight delay due to the failure of a mud motor and loss of drilling nozzles, which warranted change-outs
- The company says it recorded elevated mud gas peaks with marked increases from C1 to C5 compounds consistent with the Mukuyu-1 wellbore
- Now, IVZ will complete a comprehensive evaluation of all zones of interest through a wireline logging program, which will aim to confirm the presence of moveable hydrocarbons in multiple zones
- Shares in Invictus are trading at 30 cents at 3:31 pm AEDT
Invictus Energy (IVZ) has encountered multiple zones of fluorescence and elevated gas shows at its Mukuyu-1 sidetrack well in the Cabora Bassa Basin of Zimbabwe.
Drilling has reached a total depth of 3603 metres after a slight delay due to the failure of a mud motor and loss of drilling nozzles, which warranted change-outs
The company recorded elevated mud gas peaks with marked increases from C1 to C5 compounds including methane, ethane, propane, butanes and pentanes, which it said was consistent with the Mukuyu-1 wellbore.
Managing Director Scott Macmillan said the observations in the Upper Angwa primary target were “encouraging”.
Moving forward, the company has planned to comprehensively evaluate all zones of interest through a wireline logging program, which Mr Macmillan said would aim to confirm the presence of moveable hydrocarbons in multiple zones.
This work is anticipated to take between two to four days to complete, subject to logging conditions.
Invictus said the wellbore was due to undergo ‘reaming’ of some hole sections in the hope of reducing the ‘dog leg’ severity in preparation for wireline logging.
The Mukuyu-1 sidetrack well is part of the company’s 80-per-cent-owned SG4571 licence.
Shares in Invictus were trading at 30 cents at 3:31 pm AEDT.
