+61 (08) 6102 5055 Invictus LinkedIn ASX IVZ: 0.155

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 first high impact well, Mukuyu-1, scheduled to spud in August will test 20 trillion cubic feet + 845 million barrels of conventional gas-condensate (~4,3 billion barrels of oil equivalent on a gross mean unrisked basis#) through 8 stacked targets in the Mukuyu prospect.

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 a highly prospective licence, Special Grant 4571, in the Cabora Bassa Basin in Zimbabwe, one of the largest under-explored interior rift basins in Africa.

SG 4571 contains the world class Mukuyu conventional gas-condensate prospect, the largest undrilled prospect onshore Africa with an independently estimated 20 Tcf + 845 million barrels (~4.3 billion barrels of oil equivalent on a gross mean unrisked basis#) of conventional gas-condensate in 8 stacked targets.

The Mukuyu-1 well is planned to commence drilling end August or early September 2022 with Exalo’s 202 Rig which is on location at the wellsite. The Mukuyu-1 will test one of the largest prospects to be drilled globally in 2022.

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Project Highlights

Zimbabwe SG 4571 & EPOs 1848/49

Zimbabwe

The Cabora Bassa Project encompasses the Mukuyu (previously named Muzarabani) prospect, with an independent prospective resource estimate of 20 Tcf and 845 million barrel conventional gas-condensate target (gross mean unrisked basis#). The Mukuyu prospect is an enormous anticline feature mapped on seismic data with over 200km2 under closure and contains multiple prospective horizons.

Mukuyu is one of the largest undrilled conventional global exploration targets with world class scale underpinned by a robust dataset including seismic, gravity, aeromagnetic and geochemical data.

Invictus completed the acquisition of 840 km of high resolution 2D seismic data in November 2021 (CB21 Seismic Survey Documentary) which has revealed new targets within the Mukuyu prospect.

Drilling of the Mukuyu-1 exploration well will commence in September 2022, the first of a 2 well high impact basin opening drilling campaign. Baobab-1 will follow to test the high potential basin margin play which displays similarities to the prolific East Africa Rift “String of Pearls” play.

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 given 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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