Australia's Invictus spuds maiden well at Zimbabwe project
Australia’s Invictus Energy has spudded the maiden exploration well at its Cabora Bassa project in Zimbabwe, the company said on September 26.
The drilling at the Mukuyu-1 exploration well in SG 4571 started on September 24 from the installed conductor at 67 m to a planned depth of about 650 m in the 17.5-inch intermediate hole section.
Mukuyu-1 is targeting 20 trillion ft3 of gas and 845mn barrels of conventional gas condensate or about 4.3bn barrels of oil equivalent on a gross mean unrisked basis, Invictus said.
The second well, Baobab-1, will test recently identified basin margin play. The well will be drilled to a projected depth of 3,500 m. Baobab-1 well will target stacked Cretaceous and younger sandstones, within four-way and three-way dip closures, against the southern basin bounding rift fault.
Invictus in August raised A$25mn ($16.2mn) via a private placement to fund the initial drilling campaign in the Cabora Bassa basin. The company has previously said it remains open to strategic partnering opportunities in the future that could add value for shareholders as it continues to progress the development of the Cabora Bassa project.