Invictus Energy said it has reached the total depth following exploration of the second well which has shown additional zones of strong gas and fluorescence.
Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare.
The energy company is embarking on the first oil and gas exploration in Zimbabwe.
Following the confirmation of light oil, gas and helium in Mukuyu-1 well, Mukuyu-2 drilling recommencement has yielded further positive results.
“We have had further encouraging signs from the Mukuyu-2 well since drilling recommenced with multiple additional zones encountering strong gas shows and fluorescence in the Lower Angwa formation,” said Invictus Managing Director, Scott Macmillan.
“Mukuyu-2 has proved up over a 1,000m gross interval of hydrocarbon charge through the Upper and Lower Angwa formations across multiple reservoir zones.”
According to the director, the group is expecting to complete wire logging in a week’s time.
“The planned comprehensive wireline logging programme including formation pressure and fluid sampling, sidewall cores and checkshot surveys will be run with the aim of confirming the presence of moveable hydrocarbons in multiple zones in the Upper and Lower Angwa formations to declare a discovery.
“We anticipate completing the wireline logging program in the next 6 – 8 days depending on logging conditions and number of fluid sampling stations.”
Earlier this year, the energy utility group raised over US$23 million for the current oil and gas exploration and appraisal phase.
Invictus Energy also accepted US$1,7 million in over subscriptions after the company successfully raised US$8,2 million in their Share Placement Plan (SPP).
Following its success in raising exploration funds, the group also sourced services of several leading international oilfield assistance providers for the drilling of the Mukuyu-2 well as the group’s second phase of Cabora Bassa oil and gas exploration commences.
The discovery of gas and oil in Zimbabwe is expected to boost the country’s mineral revenue. – (New Zimbabwe)