Invictus Energy has marked the site of the Mukuyu-2 well which will be located approximately 6.8km north-east of their first expedition.
While the project is the first oil mining expedition in Zimbabwe, Invictus said the further discovery of oil, gas, and helium will unlock the value of our material portfolio in the Cabora Bassa Basin.
Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare.
Mukuyu-1 well has already confirmed the presence of light oil, gas and helium.
“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.
“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,” Invictus Managing Director Scott Macmillan said.
According to Macmillan, the Mukuyu-2 well will be located approximately 6.8km northeast of Mukuyu-1 and over 400m up-dip at the primary Upper Angwa target, which can prove 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,” the Managing director added.
According to Macmillan, preparations for the drilling of Mukuyu-2 are well underway and will focus 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.”
The energy utility group recently raised over US$23 million for the current oil and gas exploration and appraisal phase. – (Newsday)