Invictus Energy (ASX:IVZ) - Managing Director, Scott Macmillan
Managing Director, Scott Macmillan
Source: The Market Herald
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  • Oil and gas explorer Invictus Energy (IVZ) sees potential for multiple stacked hydrocarbon-bearing zones within the Mukuyu prospect in Zimbabwe
  • Seismic inversion results indicated the presence of multiple hydrocarbon zones ranging from 40 to 80 metres thick just below the Horizon 200 target within the Mukuyu structure
  • The Horizon 200 target also hosts an amplitude anomaly that extends for up to 16 kilometres of strike which is also a positive indication
  • Invictus is gearing up for a two-well drilling program at Mukuyu which will initially test the Horizon 200 target in the Mukuyu-1 well
  • IVZ shares are trading flat at 20.5 cents

Invictus Energy (IVZ) has seen some fresh potential for multiple stacked zones within the Mukuyu prospect.

The Mukuyu Prospect, formerly called the ‘Muzarabani Prospect’, is part of the company’s 80 per cent-owned Cabora Bassa project in Zimbabwe.

Seismic inversion results and quantitative analysis (QA) studies indicate strong potential for hydrocarbons within the Mukuyu structure.

More specifically, the results suggest the section just below the Horizon 200 target is likely to comprise multiple stacked hydrocarbon-bearing zones that range from 40 to 80 metres thick.

Invictus Energy discovered the Horizon 200 target in its Cabora Bassa 2D Seismic Survey undertaken last year and Horizon 200 will be the first target tested in the Mukuyu-1 well.

Last month, the company announced identifying an ‘extensive’ amplitude anomaly at the Horizon 200 level. The announcement detailed a positive correlation beween the amplitude extent (up to 16 kilometres along strike and 15 kilometres along dip) and structural closure.

The oil and gas explorer said this fit to structure is regarded as a ‘very strong attribute’ for any prospect and a potential direct hydrocarbon indicator (DHI) which is an anomalous type of seismic amplitude that may occur due to the presence of hydrocarbons.

Additional studies from the seismic interpretation showed the 500 Horizon Target demonstrates an extensive flat spot across the southern flank of structure which can supposedly be seen as further validation for hydrocarbon potential.

Further positive indicators for the potential presence of hydrocarbons can be shown by interval velocity data. The company said there’s a clear lens of lower interval velocity at the 500 – 600 level which seems to be uniquely associated with the extent of the Mukuyu structure.

Invictus said this is a ‘very positive encouragement’ for the presence of a significant gas interval within the Mukuyu structure.

“The multiple seismic anomalies evident in the Mukuyu prospect across our numerous stacked target horizons, which also demonstrate structural conformance, is highly encouraging and provides us with increased confidence in delivering a successful exploration outcome,” Managing Director Scott Macmillan said.

Based on these findings, Invictus Energy will drill the Mukuyu-1 well to test multiple stacked targets within the greater Mukuyu structure.

The company expects to complete the Mukuyu-1 wellpad construction in the next few weeks before drilling begins in July.

IVZ shares were trading flat at 20.5 cents at 1:17 pm AEST.

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