IVZ Sidetrack well at 2,987m - Total Depth (TD) at ~3,400m

Our oil and gas Investment Invictus Energy (ASX: IVZ) just put out an update on its Mukuyu-2 sidetrack well.

IVZ is currently drilling a well into its oil & gas project in Zimbabwe where it has a prospective resource of ~5.5 billion barrels of oil equivalent.

Here are our key takeaways from today’s announcement:

1. IVZ now at 2,987m measured depth - Total Depth (TD) will be at ~3,400m.
2. Sidetrack well showing similar gas and fluorescence to Mukuyu-2.

Here is what we know so far:

So far, after two drill programs here is what IVZ has found so far:

What IVZ needs to do to declare a discovery -

IVZ has managed to bring hydrocarbons up to surface from a secondary reservoir target (Pebbly Arkose).

Now, by drilling the Mukuyu-2 sidetrack well IVZ is looking to get the most optimal hole conditions so that a sample can be brought up to surface from the primary reservoir targets (Upper and Lower Angwa).

Here is an image of the cross section for the sidetrack well and IVZ’s two primary reservoir targets:

What’s next for IVZ?

Wireline logging and sampling of the Mukuyu-2 sidetrack well 🔄

IVZ started drilling the sidetrack well on the 27th of November and has previously said that from start to final results should take 21-28 days.

That means we should see the final results and know whether or not IVZ has made a discovery BEFORE Christmas.

What a discovery could mean for IVZ:

We previously put out a detailed note 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