Invictus Energy Shares skyrocket on “working hydrocarbon system” at Mukuyu-1 well, Zimbabwe
- Invictus Energy (IVZ) confirms a “working hydrocarbon system” within its Mukuyu-1 well in Zimbabwe amid equipment trouble
- Drilling has reached a measured depth of 3086 metres slower than expected due to “challenging conditions” in the Pebbly Arkose, where several loss zones were encountered
- Nevertheless, conditions improved in the Upper Angwa formation, where elevated mud gas peaks were observed up to 65 times above background levels
- Moving forward, the company plans to undertake a wireline logging program to evaluate all zones of interest once drilling reaches a total depth of 3500 metres
- The company shares are soaring 161.9 per cent higher to 27.5 cents at 1:55 pm AEDT.
