Rig Mobilisation to Mukuyu-2 Commences

HIGHLIGHTS
• Exalo Rig 202 mobilisation to Mukuyu-2 has commenced
• Mukuyu-2 wellpad completed and handed over following approvals from Environmental Management Authority
• Well services equipment preparation and mobilisation in progress
• Mukuyu-2 on track to spud in September

Invictus Energy Limited (“Invictus” or “the Company”) is pleased to announce the commencement of the Exalo Rig 202 mobilisation to Mukuyu-2 wellsite at its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Comments from Managing Director Scott Macmillan:
“The commencement of the rig mobilisation marks another milestone in the project as we prepare to commence drilling the Mukuyu-2 appraisal well as a follow up from our highly successful basin opening Mukuyu-1/ST-1 well to confirm a discovery.

“The Mukuyu-2 well will be located approximately 6.8km north-east from Mukuyu-1 and over 400m updip at the primary Upper Angwa target, which provides the potential to prove up a material discovery upon success.

“Mukuyu-2 will be a near vertical well with a planned total depth of approximately 3,700m, which will also enable us to penetrate the untested Lower Angwa reservoirs in this location.

“The preparation of the well services equipment to be followed by independent QAQC ahead of mobilisation to the Mukuyu-2 wellsite is well underway and we remain on track to spud in September.”

Mukuyu-2 wellpad construction completed
The Mukuyu-2 wellpad construction has been completed following the finalisation of civil works including pad levelling and compaction, water supply and reservoirs. The wellsite has been inspected by the Environmental Management Authority and approved in accordance with the Environmental Management Plan.

Following the completion of the rig move to Mukuyu-2, Rig 202 will be rigged up and then undergo commission of the new mud tank system and rig acceptance.

Mukuyu-2 is located approximately 6.8km to the north-east of Mukuyu-1, targeting a prominent horst block within the greater Mukuyu structural closure.

The primary target interval, the Triassic Upper Angwa Formation, sits approximately 400m shallower at Mukuyu-2 than at Mukuyu-1. This location will provide excellent information on the distribution and reservoir quality of Upper Angwa sands.

The Mukuyu-2 well trajectory (Figure 2) is planned to be near vertical from the surface location (maximum inclination of 12°) to provide optimal penetration of several stratigraphic intervals within the same structural horst block, while minimising operational complexity for both drilling and formation evaluation activities.

The well will also penetrate multiple additional targets including the Dande (JurassicCretaceous), Forest and Pebbly Arkose (both Triassic) Formations within the Mukuyu anticline in the central horst structure, as shown in Figure 2.

The well will be drilled to a planned total depth of approximately 3,700m to penetrate seismic reflectors interpreted to be the Lower Angwa sequence.

Mukuyu-2 is on track to spud in September.