Invictus confirms commercial finds in Zimbabwe

Invictus Energy has confirmed the presence of hydrocarbons at its Mukuyu-1 exploration well in Zimbabwe, the Australian-based independent announced on Monday.

Compositional analysis of five mud gas samples revealed multiple pay zones in sandstone reservoirs at the play, which are consistent with previous wireline log interpretation, fluorescence, and elevated mud gas readings.

Gas finds contain carbon dioxide readings of less than 1%, meaning minimal processing will be required.

The analysis also found commercial concentrations of helium of around 0.1%.

“We are extremely pleased with the results from the mud gas analysis which confirm our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas condensate provides us with confidence as we prepare for the drilling of Mukuyu-2 in Q3 this year,” said Scott Macmillan, managing director of Invictus Energy.

In January 2023, Invictus Energy identified 13 potential hydrocarbons bearing zones at its Mukuyu-1 exploration well.

In April 2023, the company announced that it had raised USD 10 million for a further exploration round of its assets on the Cabora Bassa Basin.