IVZ hits total depth TD. Wireline logging underway…
Invictus Energy (ASX: IVZ) just hit total depth (TD) at its Mukuyu-2 well.
IVZ is near the end of its drill program targeting a 20 tcf gas + 845 million barrels of oil prospective resource in Zimbabwe.
Its a target that is large enough to be company making IF IVZ can make a discovery.
Today, IVZ hit TD ~50m earlier than it first anticipated citing “increasing levels of connection gas” which would have made drilling deeper more challenging.
Put simply - IVZ was seeing more and more gas as it drilled deeper and instead of compromising the hole conditions it has moved straight into the final stage of its drill program - wireline logging.
IVZ has already kicked off the wireline logging program and expects results within 6-8 days.
That means we should know whether or not IVZ has made a basin opening discovery in less than 8 days time…
Wireline logging will ultimately determine the net pay numbers and give us more detail on porosity/permeability.
All of these are what determine how big and how likely a discovery is to being commercial.
Here is everything we know about IVZ’s project so far:
What we expect to see IVZ announce next:
- The well reaches total depth (TD) ✅ - IVZ hit total Depth already - 3,718m.
- Wireline logging program commenced and completed 🔄 - Wireline logging will take 6-8 days to complete (assuming no technical issues).
- Final results (fingers crossed we get a “discovery” announcement here) 🔲 - We should know within the next 8 days…
What a discovery could mean for IVZ:
We put out a detailed note on IVZ on Friday which touches on what a discovery could mean for IVZ.
Check out that note here: Just days away now… the IVZ result we have been waiting for
