Invictus Energy (ASX: IVZ) observes ‘positive early signs’ for moveable hydrocarbons in Upper Angwa

November 09, 2023 04:17 PM AEDT | By Manisha
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  • Invictus Energy has observed moveable hydrocarbons at its Mukuyu-2 well.
  • The firm is expecting to complete the fluid sampling campaign within a week.

ASX-listed Invictus Energy Limited (ASX: IVZ) has been focusing on advancing the drill campaign at the Mukuyu-2 well within Zimbabwe based Cabora Bassa Project.

In the latest announcement, the company reported gas and liquid hydrocarbon shows (condensate/oil) during the initial sample clean-up. The observation of moveable hydrocarbons was made during the fluid sampling program in the Upper Angwa.

The company is expecting to complete the fluid sampling program in the coming days. However, the completion of the work relies on logging conditions as well as the number of fluid sampling stations.

Tracking the progress so far

In 2023, the company interpreted 13 potential hydrocarbon bearing zones in the Upper Angwa and Pebbly Arkose formations after operations at the Mukuyu-1 ST1 well were completed. This included a combined 225 metres of gross potential hydrocarbon bearing zones observed in the primary target Upper Angwa.

After thorough compositional analysis for five priority mudgas samples gathered during the Mukuyu-1 / ST-1 well drilling in selected Upper Angwa reservoir units, results confirmed occurrence of light oil, gas-condensate and helium that further validated IVZ’s basin and geological models of the Cabora Bassa.

Following the successful basin opening Mukuyu-1 wildcat well, the company kicked off drilling at the Mukuyu-2 well in September 2023.

The company expects a successful campaign at Mukuyu-2 to be transformational for IVZ and Zimbabwe as well as much of the future energy needs of southern Africa.

IVZ shares were trading at AU$0.215 at the time of writing on 09 November 2023.  


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