Final preparations underway for maiden drilling program

Our 2020 Energy Pick Of The Year Invictus Energy (ASX: IVZ) has provided a small progress update on the mobilisation of its drill rig at the Mukuyu-1 prospect.

We first Invested in IVZ back in September 2020, naming it our 2020 Energy Pick Of The Year, and are now approaching the major drilling event that we have been patiently waiting for.

IVZ is about to drill its elephant scale prospect in Zimbabwe with the potential to open up an entirely new oil and gas basin in the country.

Drilling is expected to commence in the coming weeks with IVZ saying “final preparations are underway”.

The well will target a giant prospective resource totalling 20 trillion cubic feet (Tcf) and 845 million barrels of gas condensate. A gross mean unrisked prospective resource of ~4.3 billion barrels of oil equivalent over seven different stacked targets.