Mukuyu-2 Spud Milestone Marks 2nd High Impact Drill Phase of Cabora Bassa Project

Source: 9/21/2023, Location: Africa

• Drilling commenced at Mukuyu-2 marking an important milestone in the high impact Cabora Bassa Basin exploration program
• Rig acceptance and third-party services mobilisation completed
• Mukuyu-2 drilling and evaluation estimated 50-60 days to complete

Invictus Energy Limited (“Invictus” or “the Company”) is pleased to announce the commencement of drilling of the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Comments from Managing Director Scott Macmillan:
“This is an exciting and long-anticipated moment for Invictus and our shareholders, and the commencement of our second drilling campaign is a significant milestone.

“Following our successful basin opening Mukuyu-1 wildcat well completed last year, which proved a working petroleum system and multiple hydrocarbon bearing reservoirs has de-risked future drilling and provides us with increased confidence in Mukuyu-2.

“Mukuyu-2, if successful, could be transformational for the Company, Zimbabwe and much of southern Africa’s future energy needs.”

Mukuyu-2 spuds
The Company is pleased to announce drilling at the Mukuyu-2 appraisal well in SG 4571 commenced on Wednesday 20 September 2023 local time.

Mukuyu-2 will be drilled to a planned total depth of 3,750 metres. Drilling and evaluation of the well is prognosed to take approximately 50 to 60 days to complete.

Mukuyu-2 will test the primary target interval, the Triassic Upper Angwa formation, sitting approximately 450m updip from Mukuyu-1 where hydrocarbons were intersected, as shown in Figure 2.

The well will also penetrate multiple additional targets including the Dande (JurassicCretaceous), Forest and Pebbly Arkose (both Triassic) formations, as well as the previously untested Lower Angwa sequence within the Mukuyu anticline in the central horst structure, as shown in Figure 2 and Figure 3.

The Company will provide regular updates as the drilling campaign progresses.

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