Muzarabani’s Rich Gas Condensate Discovery to Enable Low-Cost Early Monetisation Development

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Invictus Energy, an oil and gas exploration company listed on the Australian Stock Exchange, has confirmed a rich gas-condensate discovery in Muzarabani following compositional analysis of additional downhole fluid samples. The company aims to pursue a low-cost early monetization development strategy with minimal gas processing at the surface.

According to Scott McMillan, the company’s Managing Director, the gas-condensate composition results have surpassed Invictus’ pre-drill expectations, revealing high-quality, liquids-rich gas with low inert content in both Mukuyu wells. This discovery allows the company to target a low-cost early monetization development approach with minimal gas processing at the surface from the Mukuyu field.

McMillan noted that samples from Mukuyu-2 indicate a condensate gas ratio (CGR) estimated between 10-25 barrels per million standard cubic feet of gas, along with 50-60° API gravity condensate.

“We are extremely pleased with the results from the additional downhole reservoir fluid sample analysis, which confirms a significant rich gas-condensate discovery at Mukuyu and positions the company for continued success in Mukuyu and the Upper and Lower Angwa geological trend,” said McMillan.

“The samples demonstrate a consistent, high-quality natural gas composition, with low inert content—less than 2% CO2 and no H2S—which will require minimal processing for sale,” he added.

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McMillan further highlighted the presence of light oil in the Upper Angwa and potentially Dande formation, indicating multiple hydrocarbon source rocks and charge events.

“The hydrocarbons present in the Mukuyu gas-condensate field appear, from initial analyses, to have been generated and expelled from both local source rock intervals within the massive Mukuyu structure and also migrated from other source rock-rich areas off-structure. These results bode well for the presence of hydrocarbons in the prospects and leads in the remainder of the Company’s acreage, which has been de-risked by the Mukuyu gas-condensate discovery,” McMillan concluded.

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