Australia’s Invictus Energy has more than doubled the amount of gas it hopes to find at its upcoming Mukuyu well, in Zimbabwe.
ERCE has provided an updated report on the prospect, in which Invictus has an 80% stake. The resource consultant now estimates the gross mean recoverable conventional potential to be 20 trillion cubic feet (566.4 billion cubic metres). It has also guided to a potential 845 million barrels of gas condensate.
In total, there are 4.3 billion barrels of oil equivalent on a gross mean unrisked basis, ERCE said.
Previously the company had suggested Mukuyu may hold 8.2 tcf (232 bcm) of gas.
Invictus managing director Scott Macmillan said Mukuyu was now “one of the largest conventional exploration targets globally”.
The ERCE study is based on the last year or so of work from Invictus. The company acquired a 2D seismic survey in 2021.
“The substantial work undertaken to plan, acquire, process and interpret the CB21 seismic survey and integrate it into our geological and basin modelling studies has enabled us to identify and quantify the additional prospectivity. This has not only materially enhanced the value of our acreage, but also de-risked it,” Macmillan said.
The company flagged in particular the new 200 horizon, in the Dande formation, at Mukuyu. This is a “material shallow target”, it said, with an estimated 1.8 tcf (51 bcm) and 77mn barrels of condensate.
Invictus is planning a two-well programme in Zimbabwe.
The wellpad is completed. The Exalo Rig 202 is on its way to the site, with drilling expected in August. This is a slight delay to the previously guided target of spudding in July.
The Mukuyu-1 will test seven major targets using a deviated well. This gives Invictus “multiple opportunities to make a material hydrocarbon discovery”, it said.
The single largest target at Mukuyu is Forest. This has a mean gas resource of 4.49 tcf (127 bcm) and 183mn barrels of condensate.