A look at Invictus’ (ASX:IVZ) plan of action for Mukuyu-1 well at its Cabora Basin

Highlights

• Invictus Energy is advancing drilling activities at its Mukuyu-1 well at Cabora Bassa Basin, Zimbabwe.
• The Exalo Rig 202 has drilled surface hole section down to a depth of ~593m Measured Depth at the Mukuyu-1 well.
• Mukuyu-1 is targeting 20 TCF plus 845 million barrels of conventional gascondensate (gross mean unrisked).

The most recent ASX release by Invictus Energy Limited (ASX:IVZ) reveals details about the progress in activities at the Mukuyu-1 well in its 80% owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin Project. At the site, the diverter system has been rigged up and the Exalo Rig 202 has drilled the 17 ½” surface hole section down to a depth of around 593m Measured Depth (MD). Currently, the drill string is being pulled out of hole in readiness to kickstart running casing.

Further plan of action

After setting the 13 ⅜” casing in place, the blow out preventer (BOP) stack has to be installed, while the rig will drill ahead in the 12 ¼” intermediate hole section via the first prospective targets.

The targets in the 12 ¼” hole section consists of the 200 (Post Dande), 250 and 350 (Dande), and 400 horizons (Forest). These will be drilled down to around 2,200m MD before running a wireline logging evaluation suite and then setting the 9 ⅝” casing.

After setting the 9 ⅝” casing, the rig will drill ahead in the 8 ½” hole section through the 500 (Pebbly Arkose) through to the primary targets in the 600 and 650 horizons (Upper Angwa Alternations Member) to ~3,500m MD before running a wireline logging evaluation suite.

Key objectives of Mukuyu-1 Well
Globally, Mukuyu is one of the largest oil and gas exploration prospects to be drilled in 2022, targeting a combined prospective resource potential of 20 TCF (trillion cubic feet) and 845 million barrels of conventional gas condensate, or ~4.3 billion barrels of oil equivalent on a gross mean unrisked basis.

The Mukuyu-1 well is designed to target seven stacked Triassic and younger sandstones within a 200km² four-way dip closure on the basement high trend. Drilling along with evaluation of the well is expected to complete in about 50 to 60 days.

Next, the Baobab-1 well will be drilled after Mukuyu-1 to test an independent play along the basin margin in the EPO 1849 block. It would take around 30 to 40 days for completion.

At Baobab-1 well, Invictus will target stacked Cretaceous and younger sandstones, within four-way and three-way dip closures, against the southern basin bounding rift fault. It shows structural characteristics similar to the play opening Ngamia discovery in Kenya’s Lokichar Basin, which resulted in significant discoveries in the “String of Pearls” along the basin margin.

Image: Company Announcement
Cabora Bassa Project Prospect and Lead Map 

IVZ shares were trading at AU$0.200 on 05 October 2022.