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Invictus Energy (ASX: IVZ) kickstarts Mukuyu-2 sidetrack drilling, shares up - Kalkine Media

November 27, 2023 02:30 PM AEDT | By Manisha
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Highlights

  • Invictus Energy has initiated Mukuyu-2 vertical sidetrack successfully.
  • Mud system has been displaced to the planned lower weight drilling fluid.
  • At present, the company is drilling 8½ inch hole to section total depth at ~3,400mMD through Upper and Lower Angwa.

In the latest announcement, ASX-listed Invictus Energy Limited (ASX: IVZ) revealed that the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe has been plugged back with cement above the 9⅝” casing shoe at around 1,966m Measured Depth (mMD).

The company has successfully kicked off Mukuyu-2 vertical sidetrack.  

Propelled by the update, IVZ shares were spotted trading at AU$0.16, 10.3% higher, midday on 27 November 2023. The company has a market capitalisation of over AU$174 million.

What’s the progress so far?

The firm has subsequently displaced the mud system to the planned lighter weight drilling mud and changed out the bottom hole assembly (BHA) to include a new drill bit along with Measuring While Drilling (MWD) tools.

The company is drilling the 8½ inch Mukuyu-2 ST1 (sidetrack) well using the Exalo Rig 202. Its Total Depth is nearly 3,400mMD through the Upper and Lower Angwa reservoirs with many zones bearing hydrocarbons intersected in Mukuyu-2.

After having drilled the 8 ½ inch hole section, IVZ plans to log the sidetrack well. This step would include wireline formation testing.

The company plans to suspend the well for future flow testing post completion of the sidetrack. It will be done through running the 7-inch liner over this interval.

IVZ will continue to drill, analyse and study the remaining portion of the Lower Angwa in 6-inch hole in future operations where over pressured gas bearing reservoirs were found in the original Mukuyu-2 wellbore.  


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