Berkshire is hoarding so. much. cash.
How Invictus Energy Is Encountering Strong Gas Shows and Fluorescence at Mukuyu-2 Well in Zimbabwe
Invictus Energy Limited, which is involved in oil and gas exploration, announced that it has encountered strong gas shows and fluorescence in the latest update on drilling at its Mukuyu-2 well. The well is part of the Cabora Bassa Project in Zimbabwe, which is owned and operated by Invictus. Managing Director Scott Macmillan said the company's latest findings were "encouraging. " The project has also revealed over a 1,000m gross hydrocarbon charge interval across Upper and Lower Angwa formations in multiple reservoir zones.
Wireline Logging Program to Verify the Presence of Hydrocarbons
The company has commenced a wireline logging program to study multiple zones from the well's Upper and Lower Angwa formations to verify the presence of moveable hydrocarbons. The process will run for approximately 6-8 days and includes the collection of formation pressure and fluid samples, sidewall cores, and checkshot surveys. The successful conclusion of the wireline program will confirm the presence of oil and gas in the Upper and Lower Angwa formations and declare a discovery.
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Drill Bit and Bottom Hole Assembly Changed
Since the last update, the drill bit and bottom hole assembly were changed, and drilling of the 8½” hole section was completed. The well reached 3,718 metres Measured Depth (“mMD”), where the Total Depth (TD) was called. The current depth reached by the 8½” hole section is 3,296 meters Measured Depth (“mMD”). The drilling process encountered high levels of trip gas and increasing levels of connection gas, and to maintain the required pressure overbalance in the borehole, the mud weight had to be increased. However, raising the drilling mud weight fraught the need to call Total Depth at 3,718mMD.
Multiple Additional Lower Angwa Reservoirs Showing Signs of Hydrocarbons
Invictus Energy discovered strong gas shows up to 65 times above the background gas baseline, as well as fluorescence indicative of the presence of liquid hydrocarbons in many additional Lower Angwa (Massive Member) sandstone reservoirs. The drilling breaks clearly show that there are high levels of hydrocarbons present in the reservoir. However, no logging while drilling (LWD) resistivity or gamma ray data was available since drilling resumed due to a failure of the backup pulser, necessitating a call for wireline logging to test multiple zones' interest in the current 8½ "inch hole section. The borehole condition post-drilling to TD and pulling out of the hole remains favorable and conducive for conventional wireline logging operations.
Conclusion
Invictus Energy is continuing drilling at Mukuyu-2 in Zimbabwe and has encountered strong gas shows and fluorescence indicative of the presence of hydrocarbons. They have also commenced a wireline logging program to study multiple zones from the well's Upper and Lower Angwa formations to confirm the presence of moveable hydrocarbons. These results are vital in declaring a discovery in the region.
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Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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