Sponsored

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

November 09, 2023 04:17 PM AEDT | By Manisha
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • 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.  


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications



We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.