+61 (08) 6102 5055 Invictus LinkedIn ASX IVZ: 0.145

Invictus Energy is an independent upstream oil and gas company focused on sub-Saharan Africa.

Invictus is opening one of the last untested large frontier rift basins in onshore Africa - the Cabora Bassa Basin – in northern Zimbabwe. The Company’s first high impact well, Mukuyu-1, proved a working hydrocarbon system in the basin and the Company is now preparing a follow up appraisal and exploration campaign to unlock the untapped potential at Mukuyu and in the Basin Margin play.

Invictus Energy is an independent upstream oil and gas company listed on the Australian Securities Exchange (ASX: IVZ) and the OTC Markets (OTCQB: IVCTF). Our asset portfolio consists of the highly prospective SG 4571 & EPOs 1848/49, in the Cabora Bassa Basin in Zimbabwe, one of the largest under-explored interior rift basins in Africa.

Invictus recently drilled its maiden Mukuyu-1/ST1 well in SG 4571, which identified 13 potential hydrocarbon bearing zones and proved a working hydrocarbon system in the basin.

The Company is now preparing to drill the follow-up Mukuyu-2 appraisal well, targeting multiple hydrocarbon (gas-condensate and potentially light oil) bearing intervals encountered in the Mukuyu-1/ST1 well in the Upper Angwa and Pebbly Arkose formations, with the aim of confirming a gas-condensate discovery.

Mukuyu-2 will also test additional prospectivity in the deeper Upper Angwa and undrilled Lower Angwa, which were not penetrated in the Mukuyu-1/ST1 campaign, providing further upside potential. It will also aim to test the Post Dande horizon away from the major east-west fault on the southern flank.

Mukuyu-2 is expected to spud in the third quarter of 2023.

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Project Highlights

Zimbabwe SG 4571 & EPOs 1848/49

Zimbabwe

The Cabora Bassa Project encompasses one of the last underexplored frontier African Rift basins.

The project includes the Mukuyu structure, which was drilled in late 2022, confirming a working hydrocarbon system in the Cabora Bassa Basin and de-risking other exploration prospects along the Central Fairway Play.

Invictus is currently preparing to drill an appraisal well on the Mukuyu structure, targeting multiple hydrocarbon (gas-condensate and potentially light oil) bearing intervals and to test the deeper potential not encountered in the initial exploration campaign due to it being thicker than pre-drill estimates.

Mukuyu-2 will be designed to allow for flow testing to confirm reservoir deliverability and connectivity, following a successful discovery.

In addition to the Central Fairway Play, Invictus has identified a portfolio of exploration prospects in the Basin Margin Play, estimated to hold a combined 1.17 billion barrels of conventional oil on a gross mean unrisked basis.

This resource potential is comparable in scale to the prolific East African Rift System that resulted in material discoveries in the “String of Pearls” plays in Kenya and Uganda.

Our exploration area lies within communal and state land, away from fragile ecosystems, major rivers, National Parks and wildlife.

The Project has a nationally approved, independently conducted Environmental Impact Assessment. This has considered all social and environmental aspects and provides us a clear framework to operate.

The Project is fully endorsed by local chiefs & communities. All cultural obligations have been met and will be observed going forward.

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ASX Announcements

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Presentations & Reports

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Market Overview

The Cabora Bassa Project has multiple monetisation options and routes to market which will enable the rapid development of any discovery. Invictus has already secured two Gas Sale MOUs with established customers in Zimbabwe to supply up a total of 1.2 Tcf of natural gas over a 20 year period to an ammonium nitrate fertiliser manufacturer and gas to power developer.

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Invictus Energy Shareholder Briefing - Overview of upcoming Phase 2 Cabora Bassa exploration program

Invictus Energy Managing Director Scott Macmillan provides an update on the upcoming Mukuyu-2 appraisal campaign and planned infill seismic survey aimed at maturing multiple leads in the central fairway play to drill ready prospects.

Invictus Energy Shareholder Briefing - Mukuyu-1 ST1 final results

Invictus Energy Managing Director Scott Macmillan gives an overview of the final results from the Mukuyu-1 ST1 well in Zimbabwe's Cabora Bassa basin

Mukuyu Prospect Video Overview

Overview of the Mukuyu-1 well targeting 20 Tcf + 845 million barrels of conventional gas condensate. The first high in our high impact drilling program in the Cabora Bassa Basin

Mukuyu-1 Well Targets

Invictus Energy Cabora Bassa Seismic Survey 2021 Documentary

Mini documentary on the recently completed CB21 Seismic Survey acquired by Polaris

Crux Investor Interview Technical Due Dilligence April 2022

Crux Investor Interview with Managing Director

Shareholder Investor Briefing 13 May 2022

Shareholder Investor Briefing with Managing Director 13 May 2022

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