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Highlights
- IVZ reported elevated mud gas peaks up to 70 times above background.
- Elevated log while drilling (LWD) resistivity also observed in primary target reservoirs.
- Higher background gas along with heavier hydrocarbons in mudgas increasing with depth observed at the well.
- Preparations have begun to drill ahead to planned depth of 3,750mMD.
Invictus Energy Limited (ASX: IVZ) shares gained 6.90% to AU$0.155 apiece during the early trading hours on 20 October 2023, after the company shared an encouraging update from drilling activities at its Mukuyu-2 well at Cabora Bassa Project, Zimbabwe.
At the well, Triassic Upper Angwa formation is the primary target.
While drilling to 2,582 mMd (metres measured depth) with marked increases from C1 to C5 compounds, elevated mud gas peaks have been seen up to 70 times above the background gas baseline. Moreover, elevated LWD resistivity has been detected in primary target reservoirs.
Total background gas observed is higher in Mukuyu-2 when compared to Mukuyu-1, and heavier hydrocarbons (C4 and C5) have been observed, indicating the presence of an active petroleum system in the basin.
Data source: Company update
IVZ gearing up for further drilling
Following a drill bit change, IVZ is preparing to drill ahead to the planned total depth of 3,750m through the remaining Upper Angwa and into additional potential in the Lower Angwa. Once total depth is reached, a wireline logging evaluation suite is planned.
