Invictus Energy Limited provided 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. Progress and current operations: Since the last update, the reaming of select hole sections was completed and the wellbore was prepared for wireline logging. The primary wireline logs were successfully acquired across the entire 8½" hole section of the Mukuyu-1 ST1 wellbore.

Preliminary evaluation indicates multiple potential gas bearing zones coincident with intervals that displayed elevated gas shows during drilling of the original Mukuyu-1 wellbore. Following the primary log acquisition, multiple downhole failures were encountered with both the primary and backup wireline formation testing tools. The Company deemed it prudent to request a trading halt while it assessed the potential impact to prior guidance around the timing of wireline logging operations.

The primary tool has since been successfully repaired and re-run and attempts to obtain a sample to prove movable hydrocarbons were able to recommence. However, during the wireline sampling programme, the wireline cable became lodged against the wellbore and multiple attempts to free the cable were unsuccessful. The cable is stuck above the wireline formation testing tools, which significantly increases the chance of retrieving the tools and continuing wireline logging operations to obtain a fluid sample.

Forward plan: The drill string has been rigged up to conduct fishing operations to attempt to retrieve the wireline formation testing tool. If successful, the tool function will be verified, and the Company will conduct "logging while fishing" operations on drill pipe. This will save time by allowing logging to continue during fishing operations and allowing the tools to continue the testing programme, with the aim of obtaining a fluid sample.