Invictus Confirms Mukuyu-1 Discovery in Zimbabwe

Monday, May 8, 2023

Invictus Energy has confirmed oil and gas pay zones with the Mukuyu-1 well drilled at its Cabora Bassa Project onshore Zimbabwe, giving it optimism for the upcoming Mukuyu-2 spud later this year. The company holds an 80% stake in the project.

• Presence of light oil, gas-condensate and helium confirmed from Mukuyu-1 mud gas compositional analysis
• Results confirm multiple oil and gas pay zones in sandstone reservoirs consistent with wireline log interpretation
• Upper Angwa reservoirs contain liquids rich gas with condensate-gas-ratio (CGR) estimated between 30 to 135 bbls/MMscf
• High quality gas with minimal CO2 content of less than 1%
• Helium content is consistent with global commercial helium producers
• Results confirm multiple oil and gas pay zones in sandstone reservoirs consistent with wireline log interpretation and fluorescence observed in sidewall cores and cuttings
• Multiple source / reservoir / seal pairs through the Upper Angwa

 Managing Director Scott Macmillan commented: “Results from the mudgas compositional analysis definitively proves the presence of hydrocarbons in multiple reservoir pay zones at Mukuyu-1 consistent with the wireline log interpretation, fluorescence, and elevated mudgas readings.

“Analysis shows the presence of light oil and rich natural gas-condensate, with condensate gas ratios estimated at between 30 to 135 barrels per million cubic feet. The analyzed samples demonstrate a consistent, high-quality natural gas composition, exhibiting low inert content, containing less than 1% CO2. Furthermore, the presence of helium gas in commercial concentrations in multiple reservoir units is comparable with global helium producing fields and provides an additional high value by-product.

“We are extremely pleased with the results from the mudgas analysis which confirm our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas-condensate provides us with confidence as we prepare for the drilling of Mukuyu-2 in Q3 this year. 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.”

For the full release with analysis and technical data on the results, visit Invictus Energy here.

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