Geo Associates and Invictus Energy, who are exploring for oil and gas in the Muzarabani Basin, have made further discoveries of high quality gas which include petroleum products.
This was revealed by Mines and Mining Development Minister Zhemu Soda this Monday.
Invictus Energy is an independent upstream oil and gas company listed on the Australian Securities Exchange (ASX: IVZ) and the OTC Markets (OTCQB: IVCTF).
Its asset portfolio consists of the highly prospective SG 4571 & EPOs 1848/49, in the Cabora Bassa Basin in Zimbabwe, one of the largest under-explored interior rift basins in Africa.
Invictus recently drilled its maiden Mukuyu-1/ST1 well in SG 4571, which identified 13 potential hydrocarbon bearing zones and proved a working hydrocarbon system in the basin.
The Company is now preparing to drill the follow-up Mukuyu-2 appraisal well, targeting multiple hydrocarbon (gas-condensate and potentially light oil) bearing intervals encountered in the Mukuyu-1/ST1 well in the Upper Angwa and Pebbly Arkose formations, with the aim of confirming a gas-condensate discovery.
Mukuyu-2 will also test additional prospectivity in the deeper Upper Angwa and undrilled Lower Angwa, which were not penetrated in the Mukuyu-1/ST1 campaign, providing further upside potential. It will also aim to test the Post Dande horizon away from the major east-west fault on the southern flank.
Zwnews
