Invictus Energy (ASX: IVZ) maps multiple prospects in Dande Formation

Highlights

• IVZ has identified multiple promising prospects within the Dande Formation, enhancing exploration potential.
• Seismic data interpretation revealed amplitude-supported prospects, indicating extensive hydrocarbon accumulation possibilities.
• Ongoing analysis of well data and reservoir properties underscores the potential of the Dande Formation as a key exploration target for the company.
• Additional work underway for upcoming exploration drilling.

Invictus Energy Limited (ASX: IVZ) has completed the interpretation of new Cabora Bassa 2023 2D infill seismic survey (CB23 survey) results from its Cabora Bassa Project, Zimbabwe. The interpretation has revealed several seismic amplitude-supported prospects within the Dande Formation.

Further work is underway to advance prospects including Musuma, Mopane, and Mururo for upcoming exploration drilling initiatives.

Although initially identified as individual prospects, the seismic amplitudes observed across these three structures could potentially indicate a unified, extensive accumulation.

Promising prospects

Insights from the Mukuyu well data have been integrated with the seismic dataset, facilitating the identification of numerous prospects potentially supported by amplitude in the Dande Formation.

Reduction in subsurface velocities derived from seismic data suggests the presence of hydrocarbons in the Dande Formation, particularly at the crest of the Musuma prospect.

Image source: Company update

Dande Formation prospectivity confirmed

During the drilling of Mukuyu-1 and Mukuyu-2 wells, the primary focus was on assessing the Pebbly Arkose and Angwa Formations. During this process, the Dande Formation was also identified as a potential secondary target.

At Mukuyu-2, favourable reservoir conditions were encountered within the Dande Formation, with wireline logs and elevated mudgas readings suggesting the presence of residual hydrocarbons. The presence of effective reservoir sands highlights the potential of the Dande Formation as a promising exploration target across the basin.

To further evaluate the reservoir potential of the Dande Formation, sidewall cores obtained during the drilling of Mukuyu-2 are currently being prepared for analysis in the laboratory. The goal is to determine essential reservoir properties such as porosity and permeability.

IVZ shares traded at AU$0.069 apiece at the time of writing on 6 May 2024.