Highlights
- Invictus Energy (ASX:IVZ) has shared encouraging results from preliminary wireline program at the Mukuyu-1 ST1 well.
- As per log analysis, there are numerous potential gas bearing reservoir units at the wellsite.
- The company will soon resume wireline formation testing after retrieval of tool.
Invictus Energy Limited (ASX:IVZ), an independent upstream oil & gas exploration company, has revealed the Mukuyu-1 sidetrack preliminary wireline results, indicating multiple potential gas bearing zones. The Mukuyu-1 well is currently being drilled in the company’s 80%-owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin.
According to the company, the preliminary wireline results from the Mukuyu-1 ST1 well have provided it with further encouragement.
Developments as unfolded in recent times
The company has completed the reaming of select hole sections, and the wellbore has also been prepared for wireline logging. The primary wireline logs were acquired successfully across the 8½” hole section of the Mukuyu-1 ST1 wellbore.
As per preliminary evaluation, there exists several potential gas bearing zones coincident with intervals which had elevated gas shows during drilling of the original Mukuyu-1 wellbore.
IVZ shares were trading at AU$0.275 in the early hours of 29 December 2022.
More to come…