Invictus Energy Limited is pleased to provide an update on the Mukuyu-2 appraisal well, a follow up to the successful, play-opening Mukuyu-1 well in the Cabora Bassa Basin in Zimbabwe.

 “Selection of the Mukuyu-2 appraisal well location, refinement of the well trajectory and drilling plans have been completed as we prepare to follow up from our highly successful basin opening Mukuyu-1/ST-1 well. The Mukuyu-2 well will be located approximately 6.8km north-east from Mukuyu-1 and over 400m updip at the primary Upper Angwa target, which provides the potential to prove up a material discovery upon success.

 Mukuyu-2 will be a near vertical well with a planned total depth of approximately 3,700m, which will also enable us to penetrate the untested Lower Angwa reservoirs in this location. Preparations for the drilling of Mukuyu-2 are well underway and focused on leveraging the insights from our previous campaign. The wellpad construction is progressing well and we remain on schedule to spud in the third quarter of CY23. “Mukuyu-1/ST1 has already confirmed the presence of light oil, gas and helium, de-risking drilling in the frontier Cabora Bassa Basin. 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.”  Scott Macmillan, Managing Director, Commented.

Mukuyu-2 appraisal well location selected

 Following completion of the refined seismic interpretation, incorporating results from the Mukuyu-1/ST-1 well, the Mukuyu-2 subsurface targets and appraisal well location have been selected. Mukuyu-2 will be located approximately 6.8km to the north-east of Mukuyu-1 (Figure 1), targeting a prominent horst block within the greater Mukuyu structural closure.

The primary target interval, the Triassic Upper Angwa Formation, sits approximately 400m shallower at Mukuyu-2 than at Mukuyu-1. This location will provide excellent information on the distribution and reservoir quality of Upper Angwa sands. The Mukuyu-2 well trajectory (Figure 2) is planned to be near vertical from the surface location (maximum inclination of 12°) to provide optimal penetration of several stratigraphic intervals within the same structural horst block, while minimising operational complexity for both drilling and formation evaluation activities.

The well will also penetrate multiple additional targets including the Dande (JurassicCretaceous), Forest and Pebbly Arkose (both Triassic) Formations within the Mukuyu anticline in the central horst structure as shown in Figure 2. The well will be drilled to a planned total depth of approximately 3,700m to penetrate seismic reflectors interpreted to be the Lower Angwa sequence. The Lower Angwa has reservoir potential demonstrated from the outcrops of massive sandstones in the basin, but was not penetrated by Mukuyu-1 as the Upper Angwa Formation was thicker than pre-drill prognosis.

At the Mukuyu-2 location, the Lower Angwa reservoirs are interpreted to be juxtaposed against the Upper Angwa Formation, containing multiple mature source rock intervals potentially in the light-oil / gas-condensate generation window and within the fetch area of the basin depocenter to the north of Mukuyu. Given the early-stage exploration of the hydrocarbon habitat in the Cabora Bassa Basin, a comprehensive formation evaluation program is planned which, in addition to the formation pressure testing and fluid sampling, includes wireline logs, sidewall cores and a vertical seismic profile (VSP).

This will provide critical information on the Mukuyu structure and contribute to the characterisation of the wider basin prospectivity where the Company has already mapped an extensive portfolio of prospects and leads. A number of these are expected to be matured into drill ready prospects as a result of the ongoing CB23 seismic survey. In the event of a successful appraisal result, the drilling program will allow for the suspension of Mukuyu-2 for a future well test to confirm reservoir productivity.

Mukuyu-2 wellpad construction commenced

Preparations for the drilling of Mukuyu-2 are well underway and are focused on leveraging lessons and insights from Mukuyu-1 to improve the logistics, drilling efficiency and operational risk profile of Mukuyu-2. Civil engineering works have begun to prepare the wellsite for the arrival of the Exalo 202 Rig (from its current location at the Mukuyu-1 wellsite) during July and August with drilling at Mukuyu-2 expected to begin later in Q3 CY23. The drilling and logging operations, to a planned total depth of around 3,700m, are expected to take 50-60 days.