Invictus Energy (ASX: IVZ) gathers extensive data from Mukuyu-2, preps up for flow testing

Highlights

• Invictus has completed wireline logging operations in the Lower Angwa, collecting comprehensive set of logs from the Mukuyu-2 sidetrack well.
• IVZ will use this data to calibrate log data to fluid, core, and seismic data.
• Total 15 hydrocarbon samples have been recovered to surface from the Upper and Lower Angwa reservoirs.
• Total 38 sidewall cores have been recovered from the Mukuyu-2 sidetrack well.

Independent upstream oil & gas company Invictus Energy Limited (ASX:IVZ) has shared another progress update concerning its operations at Mukuyu-2 sidetrack in Zimbabwe.

The company has completed wireline logging operations in the Lower Angwa following the recovery of hydrocarbons to surface.

IVZ has gathered a comprehensive set of wireline logs from the Mukuyu-2 sidetrack well. This includes rotary sidewall cores as well as a vertical seismic profile (VSP). Using this data, IVZ will be able to calibrate log data to fluid, core, and seismic data.

As per the company, it has observed hydrocarbon fluorescence in many sidewall cores retrieved from reservoir sands in gas zones, including zones where downhole fluid samples were acquired and gas and liquid hydrocarbons were observed through the fluid analyser during sampling.

Total 15 hydrocarbon samples have been recovered to surface from the Upper and Lower Angwa reservoirs. Now, the sample bottles will be sent to labs for sampling to check the hydrocarbon composition of the samples gathered, including condensate gas ratios (CGR).

Significance of wireline logs

Wireline log interpretation hints at a preliminary net pay estimate of 34.9m for the Mukuyu-2 well across the Upper Angwa and Lower Angwa formations, resembling basin opening discoveries of the initial phases of exploration in the Albertine Graben and Perth Basin plays.

Also, substantial additional gross sands have been intersected at the Upper and Lower Angwa gas legs below the present net reservoir cut-off. However, the net-reservoir and hydrocarbon pay calculations require further calibration with core and fluid data.  

IVZ needs to perform additional appraisal activity as well as technical evaluation of log, core, seismic and well test data so as to identify the extent of the resource size.

As per the wireline logs, there are residual hydrocarbons at the Pebbly Arkose and Dande formations in Mukuyu-2. According to the company, these formations exhibit further exploration potential to be targeted in future campaigns.

Total 38 sidewall cores have been recovered from the Mukuyu-2 sidetrack well.

Action plan for coming quarters

Invictus is gearing up to run the 7-inch liner at the Mukuyu-2 sidetrack well. This will let the well to be suspended for future flow testing over this interval. This will allow IVZ to re-drill, evaluate and test the remaining portion of the Lower Angwa, below 3,400mMD, in 6-inch hole in future operations.

The company plans to integrate the Mukuyu-2 results into the geological and geophysical datasets to inform future exploration and appraisal activity across its extensive acreage portfolio.

IVZ shares traded at AU$0.165 on 18 December 2023, up over 3% from the last close.