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Breaking News: What's Behind Invictus Energy's Monumental Gas Discovery in Zimbabwe? — ASX:IVZ| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$IVZ
Breaking News: What's Behind Invictus Energy's Monumental Gas Discovery in Zimbabwe?
Invictus Energy Limited Announces Groundbreaking Gas Discovery in Zimbabwe’s Cabora Bassa Project
Invictus Energy Limited, a prominent figure in the oil and gas industry, is riding the waves of a momentous achievement. The company recently revealed a groundbreaking gas discovery at the Mukuyu-2 well within its 80% owned and operated Cabora Bassa Project, located in Zimbabwe. This landmark event marks the unveiling of the first Triassic-aged hydrocarbon discovery in Sub Saharan Africa, positioning Invictus at the frontier of an unparalleled energy breakthrough.
Discovery Unveiled: A Milestone Achievement
The gas discovery at Mukuyu-2 stands as a watershed moment in the onshore Southern Africa oil and gas industry. Recovering four hydrocarbon samples from two zones in the Upper Angwa formation, Invictus has set the stage for unprecedented developments within the region.
Managing Director Scott Macmillan expressed his elation, stating, “We are delighted to declare a gas discovery from the Mukuyu-2 sidetrack well in the Upper Angwa
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formation. The discovery represents one of the most significant developments in the onshore Southern Africa oil and gas industry for decades.”
Macmillan further highlighted the extensive potential inherent in the Mukuyu field, boasting a structural closure of over 200km2. Positioned 7km away and 450 meters updip of the Mukuyu-1 well, this revelation at Mukuyu-2 reaffirms the colossal potential residing within Invictus’ acreage in the Cabora Bassa basin.
Operational Progress and Future Endeavors
As the company drills towards the base of the Upper Angwa formation, intermediate Total Depth (“TD”) was called at 2,987m Measured Depth (“mMD”). Invictus opted for an intermediate wireline logging run, capturing a limited suite of wireline logging data identifying multiple hydrocarbon-bearing reservoirs in the Upper Angwa.
Four hydrocarbon samples were successfully recovered from two separate zones, while wireline log interpretation estimated a preliminary net pay of 13.9m for the Upper Angwa. Notably, significant additional gross sands were encountered, holding the promise of further reservoir development.
The discovery not only elevates the prospects of the Mukuyu field but also augurs well for potential discoveries across Invictus’ expansive acreage in the Cabora Bassa Basin.
Moving forward, the Exalo Rig 202 will continue drilling towards the sidetrack section Total Depth at approximately 3,400mMD, focusing on Lower Angwa reservoirs. This section has shown multiple zones interpreted as hydrocarbon-bearing, instilling optimism for subsequent operations.
Invictus Energy Limited’s gas discovery at the Mukuyu-2 well stands as a monumental breakthrough, signifying the dawn of a new era in Southern Africa's energy landscape. As the company forges ahead with its ambitious exploration and appraisal program, it's poised to reshape the region's energy dynamics for generations to come.
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Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
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$ASN
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