Invictus Energy Limited provide an update on the Mukuyu-1 well that is currently being drilled in its 80% owned SG 4571 licence in Zimbabwe's Cabora Bassa Basin. Since the last update, the 8½" hole section has been drilled to a depth of 3,086 metres Measured Depth ("mMD"). Elevated mud gas peaks (up to 65 times above background gas baseline) have been observed while drilling through a depth of 3,070 mMD with marked increases from C1 to C5 compounds (methane, ethane, propane, butanes and pentanes).

An initial 100% fluorescence was also observed in a downhole cuttings sample of sandstone, retrieved from a depth of approximately 3,070 mMD, indicating the presence of condensate or light oil when placed under an ultraviolet light. Logging While Drilling (LWD) analysis has identified further shallower zones of interest within the Upper Angwa, with elevated mud gas readings and LWD resistivity being observed. Additional potential zones of interest in the Pebbly Arkose and Forest formations also display elevated LWD resistivity.

However, due to multiple equipment failures of the gas chromatograph systems, mud gas composition data is not available at depths shallower than approximately 2,820 mMD through the Dande, Forest and majority of the Pebbly Arkose horizons. Increasing background gas with heavier hydrocarbon components has been observed with the increase in depth since the repair of the mud gas chromatograph system. All zones of interest will be comprehensively evaluated through a planned wireline logging programme, which will take place once Mukuyu-1 reaches total depth and will allow for the identification of any potential hydrocarbon pay.