Invictus Energy Starts Phase Two of Oil, Gas Exploration

An Exalo Drilling employee prepares drilling rods ahead of Mukuyu-1 exploration drilling in Mbire last year

Business Reporter

INVICTUS Energy, the Australia-headquartered firm scouting for oil and gas in Zimbabwe’s Cabora Bassa Basin region in Muzarabani, has commenced Mukuyu-2 appraisal well and phase 2 exploration programme. Appraisal wells are additional wells drilled after discovery, to confirm the size of a hydrocarbon deposit. They are normally used to run buildup tests, drill stem tests, top and bottom of formation, gather core or fluid samples or other evaluations. In February, the company announced the intent to raise US$6,733 million through a private placement to finance preparations for Mukuyu-2 appraisal well and Phase 2 exploration programme. The drilling of the second well within the firm’s prospective area in the Cabora Bassa Basin in Mbire follows post well analysis of the Mukuyu-1 prospect, which showed strong evidence of hydrocarbon deposits. Results from drilling at Mukuyu one showed strong evidence for petroleum deposits, despite the technical glitches the firm experienced regarding extracting fluid sample to fulfil regulatory requirements necessary to declare a commercial discovery. ReadMore