• Appraisal program commences with Mukuyu-2 spud targeted for early Q3 2023
• Well services and long lead process tendering commenced
• Mukuyu-1 post well analysis of pressure data indicates potential for significant gas columns in Pebbly Arkose and Upper Angwa
• Industry interest received to partner in project and forward work program
• 2D seismic acquisition planned to mature multiple leads in proven fairway

Invictus Energy today provides an update on operations at its 80% owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin.

Managing Director Scott Macmillan commented:
“Preparations for the Mukuyu-2 appraisal well have commenced, with drilling currently targeted to commence in early Q3.

“We will take the learnings from the successful Mukuyu-1/ST1 well to optimise the well design for the drilling conditions encountered and the ability to evaluate multiple hydrocarbon bearing intervals.

“Post well analysis of Mukuyu-1 indicates potential for significant gas columns in the Pebbly Arkose and Upper Angwa formations, based on significantly elevated pressures in interpreted gas bearing sands above normal hydrostatic gradient.

“Preliminary processing of the side wall cores obtained in the Mukuyu-1 well have also provided further encouragement for the Company.

“Additional fluorescence observed in the upper Pebbly Arkose reservoir sections has increased the gross interval with hydrocarbon charge throughout the Pebbly Arkose and Upper Angwa to 1,500 metres and substantially expands the play interval in the Cabora Bassa Basin.

“Following success at Mukuyu-1/ST1, which confirmed a working hydrocarbon system in the basin, we have received industry interest to participate in the Cabora Bassa Project and the Company is considering a range of options to manage forward exploration, appraisal and development programs.

“We are also planning an infill 2D seismic survey in EPO 1848/49 to mature multiple leads into drillable prospects along trend from Mukuyu, and the highly prospective Basin Margin play.

“I look forward to spending time on the ground in Zimbabwe early next month with the entire Board as momentum builds towards the drilling of Mukuyu-2.

“Success at Mukuyu-2 and confirmation of a significant discovery will further unlock the value of our material portfolio and basin master position in the Cabora Bassa Basin."

Mukuyu-2 appraisal well program commences with spud targeted for early Q3

Preparations have commenced for the Mukuyu appraisal program, with the first well, Mukuyu-2, targeted to spud early Q3 CY2023.

Mukuyu-2 will target multiple hydrocarbon (gas-condensate and potentially light oil) bearing intervals encountered in the Mukuyu-1/ST1 well in the Upper Angwa and Pebbly Arkose formations, with the aim of confirming a gas condensate discovery.

The well design for Mukuyu-2 will incorporate valuable experience gained from the drilling of the successful Mukuyu-1/ST1 exploration well to improve drilling efficiency and lowering operational risks.

The appraisal well will also be designed to test the deeper potential in the remaining Upper Angwa formation, which was not encountered in the Mukuyu-1/ST1 campaign due to it being thicker than pre-drill estimates.

The Mukuyu-1/ST1 well encountered gas pay to total depth, interpreted from wireline logs and fluorescence in multiple reservoirs throughout the 900-metre interval penetrated.

This additional prospectivity in the Upper Angwa and the undrilled Lower Angwa target provides further up-side potential at Mukuyu-2.

The Mukuyu-2 well design will allow for flow testing to confirm reservoir deliverability and connectivity following a successful discovery.    

The tendering process has commenced for minor additional long leads and well services and the completion of this process will help further refine the timing of the spud date for Mukuyu-2.

Exalo Rig 202 remains warm stacked at the Mukuyu-1 wellsite, with planned upgrades and maintenance to commence in April following the end of the wet season and prior to mobilisation to the Mukuyu-2 wellsite.

All permitting and approvals are in place for the drilling of Mukuyu-2 and the wellpad construction will commence following the finalisation of well location and construction design.

On the back of positive results from Mukuyu-1/ST1, the Company has received interest from industry partners to participate in the Cabora Bassa Project. The Company is considering farming down an interest across the project area or on an individual licence basis to manage forward exploration and appraisal work and future development programs.

2D seismic acquisition planned to mature eastern leads to drillable prospects

The Company plans to acquire additional seismic in the eastern portion of EPO 1848 & 1849 to mature multiple leads (Mopane, Musuma, Machabel and Mahogany) along the proven play on trend to the east of Mukuyu and additional leads along the highly prospective Basin Margin play (Mimosa and Mukwa)

Cabora Bassa Basin Prospect & Lead Map

The leads all display seismic amplitude anomalies such as “flat spots” (often indicative of hydrocarbon contacts) and velocity interval slowdowns, which correlate with the hydrocarbon bearing intervals intersected in the Mukuyu-1/ST1 well.

The acquisition of modern 2D seismic will likely allow the Company to mature a number of these leads, previously identified on reprocessed vintage seismic data, to drillable prospects, providing additional running room and adding materially to the portfolio.

Seismic survey design and planning is well advanced and acquisition is anticipated to commence in Q2 2023, incorporating the Company’s experience from the successful CB21 Seismic Survey acquisition.

KeyFacts Energy: Invictus Energy Zimbabwe country profile