Mukuyu-2 Drilling Update

Source: www.gulfoilandgas.com 10/3/2023, Location: Africa

HIGHLIGHTS
• Surface hole section drilling completed to a depth of 496m
• Exalo Rig 202 to drill intermediate hole section through the secondary targets
• Mukuyu-2 on track to complete drilling and evaluation within estimated 50-60 days

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

Progress
Since the last update, the Exalo Rig 202 has drilled the 17 ½” surface hole section down to a depth of approximately 496m Measured Depth (“MD”).

The 13 ? inch casing has been set in place and the blow out preventer (BOP) stack successfully installed, with drilling of the intermediate 12 ¼ inch hole section commenced.

Forward Plan
Rig 202 will continue to drill ahead in the 12 ¼” inch intermediate hole section through the Dande and Forest targets to a planned total section depth of approximately 2,040m MD within the Pebbly Arkose formation before running a wireline logging evaluation suite and then setting the 9 ?” casing.

After setting the 9 ?” casing the rig will drill ahead in the 8 ½” hole section through the reminder of the Pebbly Arkose through to the primary targets in the Upper Angwa (Alternations Member) and to the Lower Angwa (Massive Member) to approximately 3,750 metres MD before running a wireline logging evaluation suite.

Mukuyu-2 Well Objectives
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 1 and Figure 2.

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


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