BY NEW ZIANA
Australian energy firm Invictus Energy Limited has said it has discovered four times more gas at its second drill site, Mukuyu-2, in Zimbabwe's Muzarabani district than at Mukuyu-1, boosting its prospects of developing the country's first oil and gas project.
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| Image: Energy Power & Capital |
Invictus, which is exploring the Cabora Bassa Basin in Zimbabwe, said it had encountered strong gas shows and fluorescence in cuttings, indicating the presence of liquid hydrocarbons, in multiple sandstone reservoirs at its Mukuyu-2 site.
"Total gas observed from reservoirs in Mukuyu-2 to date is approximately four times greater than observed total gas peaks in Mukuyu-1. Background gas, including heavier hydrocarbons (C4 and C5), is approximately double the background levels observed in Mukuyu-1," the company said last week.
"Along with the fluorescence in the Upper and Lower Angwa Formation reservoirs, this provides further evidence of an active petroleum system in the basin. A failure of the LWD pulser necessitated a change out of the bottom hole assembly which has subsequently been completed."
Since the last update, Invictus said that the drill bit, LWD tools and mud motor were changed out and drilling of the 8½" hole section has reached the current depth of 3,296 metres Measured Depth.
The firm noted that strong gas shows of up to 157 times above background gas baseline, with associated drilling breaks, fluorescence in cuttings (indicative of presence of liquid hydrocarbons) and elevated LWD resistivity, had been encountered in multiple Upper Angwa sandstone reservoirs.
"The top of the interpreted lower Angwa (massive member) formation was encountered close to the pre-drill prognosed depth," Invictus said.
"Further, strong gas shows (up to 151 times above background gas baseline) have been encountered in multiple lower Angwa sandstone reservoirs along with fluorescence in cuttings and elevated LWD resistivity."
The Mukuyu-2 site was identified after Invictus abandoned its first drill site, Mukuyu-1, last December due to machine breakdowns.
"Results to date have been extremely encouraging through the upper Angwa and additional positive indications of the play potential in the previously untested lower Angwa is exciting," Invictus managing director Scott Macmillan said.
Invictus, which raised A$15 million (US$9.47 million) from capital raising initiatives last month, said it expected to complete the drilling at Mukuyu-2 in 50 to 60 days.
The company has a production sharing agreement with the Zimbabwean government, which gives it the right to recover costs and share profits from any commercial discovery.
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