Invictus Energy Limited · ASX:IVZ
Invictus Energy — Investor Presentation (March 2019)
30 slides from Invictus Energy's investor presentation, March 2019
Slide 1: Cabora Bassa Project
Invictus Energy Ltd (ASX: IVZ) Cabora Bassa Project SG 4571 – Conventional Oil & Gas March 2019 Investor Presentation invictusenergy.com invictusenergy.com
Slide 2: Disclaimer
Disclaimer This document is for information purposes only. It is not a prospectus, disclosure document or offering document under Australian law or under any other law and does not constitute an offer or invitation to apply for securities. In particular, this document is not an offer of securities f
Slide 3: Giant Scale Mzarabani Prospect
Giant Scale Mzarabani Prospect 3.9 Tcf & 181 million barrels# conventional gas / condensate (gross mean unrisked) independently assessed Independent Prospective Resource Estimate completed by Netherland, Sewell and Associates, Inc. (NSAI) Contains potentially the largest, seismically defined, undril
Slide 4: Maiden Prospective Resource Estimate
Maiden Prospective Resource Estimate 3.9 Tcf + 181 million barrels of conventional gas/condensate (gross mean unrisked) from primary target alone • Independently verified by NSAI • Additional horizons and prospects + leads being mapped • Final CPR early 2019 post seismic reprocessing and interpretat
Slide 5: Mzarabani Prospect Schematic
Mzarabani Prospect Schematic • Multiple targets from a single well in a huge stacked prospect • Significant additional potential being mapped (4 way structural and basin margin plays) Forest: Additional potential Pebbly Arkose: Additional potential Basin margin plays at multiple levels Upper Angwa –
Slide 6: Corporate Snapshot
Corporate Snapshot Key Statistics – ASX: IVZ Performance Share Milestones Expiry Shares Outstanding 365,746,191 An independent prospective resource certification of greater Class A 25.2 M than 1.5TCF Gas or 250 mmboe with respect to the Cabora 20/03/2019 Performance Shares 101,022,804 Bassa Project.
Slide 7: Directors & Management
Directors & Management Scott Macmillan – Managing Director Mr. Macmillan is a Reservoir Engineer and founder of Invictus Energy. He has a Bachelor of Chemical Engineering and an MSc in Petroleum Engineering from Curtin University. He is a member of the Society of Petroleum Engineers (SPE) and has ov
Slide 8: Strategy and Results Delivery
Strategy and Results Delivery Strategy Build a quality portfolio of high potential assets with low cost entry that can be de-risked through technical work and farmed out on good terms Our commitments and delivery so far – on budget and schedule Secure High Potential Acreage (Q2 2018) ✓ Secure SG 457
Slide 9: Outstanding Results from Seismic Data Reprocessing
Outstanding Results from Seismic Data Reprocessing invictusenergy.com 9
Slide 10: Early Entry Into New Plays Can Yield Massive Rewards
Early Entry Into New Plays Can Yield Massive Rewards Transformational success for junior explorers has come from frontier exploration • First movers generally secure the best acreage Company Play Opening Discovery HC Type Carnarvon Petroleum Dorado – Western Australia Oil Africa Oil Corp Ngamia - Ke
Slide 11: Regional Activity Map
Regional Activity Map Significant regional activity underway • Karoo aged (Permo-Triassic) rift plays gaining attention • Cabora Bassa Basin possesses similar characteristics to prolific interior rift basin petroleum systems in Uganda, Kenya, South Sudan, Perth and Cooper-Eromanga basins • Regional
Slide 12: Cabora Bassa Basin Stratigraphy
Cabora Bassa Basin Stratigraphy Play Elements Thick sedimentary sequences set up Reservoir multiple targets Source Seal Dande Sandstone – tertiary target Forest Sandstone – tertiary target Pebbly Arkose – secondary target Upper Angwa – Alternations Member – Primary Target Lower Angwa – Massive Membe
Slide 13: Cabora Bassa Basin Play Elements
Cabora Bassa Basin Play Elements Source Maturity Seal 46m thick outcrop of Upper Type I / Type III mixture capable of Mudstone and siltstones capable of 1000m Angwa source rock generating low sulphur waxy crude or rich oil column heights gas condensate depending on maturity. New source rock sa
Slide 14: Cabora Bassa Basin Play Elements (continued)
Cabora Bassa Basin Play Elements (continued) Reservoir Trap Migration Angwa Sandstone primary target has Massive 4 way Mzarabani anticline Proximity to kitchen immediately north as well conventional reservoir properties with provides structural closure with as underlying source rocks allows fo
Slide 15: Geochemistry
Geochemistry Geochemistry sampling program currently underway to determine full extent of oil prone source rocks in Cabora Bassa Basin Previous geochemical studies of outcrop samples suggest a fluvial to fluvio-lacustrine source rock is present in both Late Permian Mkanga Formation and Triassic Uppe
Slide 16: Basin Model - Present Day Maturity Map
Cabora Bassa Basin Basin Model - Present Day Maturity Map New basin model – more liquids (oil and wet gas) prone 1 0.8 1 0.5 8230 0.9 0.6 1 1 0. 9 8220 1. P1 1 1.6 1. 7 1.8 P1 V2 1.4 1.7 1. 1.1 2 8210 0.7 P2 V2 1.3 P2 1.5 1. P3 1 8200 P4 0.6 P5 1. 7 8190 1.6 1. 9 2 2.1 1. 1.8 8 0. Top Upp Angwa v2 L
Slide 17: Mzarabani Prospect – Seismic Line 013
Mzarabani Prospect – Seismic Line 013 D Proposed Mzarabani-1 Well North D’ South Multiple horizons can be targeted by a single well Top Forest Top U. Angwa 3.9 Tcf + 181 mmbbls Top L. Angwa D Line 90MZIH-013 Top Permian? 5 km 5 D Line 90MZIH-013 ’ invictusenergy.com 17
Slide 18: Mzarabani Prospect – Top Upper Angwa Structure Map
Mzarabani Prospect – Top Upper Angwa Structure Map Massive fetch area for hydrocarbon migration into structure Structural crest at 2050m Lowest closing contour 2750m Top Upper Angwa structure map showing 700m vertical relief and >200km2 under closure – the largest, undrilled, seismically defined str
Slide 19: Gravity Reprocessing – New Leads Appearing
Gravity Reprocessing – New Leads Appearing 40 km high pass filter Tilt of the Total Horizontal Derivative Mzarabani anticline trend clearly visible in west Subtle NW-SE features enhanced within the of SG 4571; but likely additional feature to the southwest of the block east as well Neither of these
Slide 20: Aeromagnetic Reprocessing – Further Leads Appearing
Aeromagnetic Reprocessing – Further Leads Appearing DRTP Magnetics 10 km high pass filter Additional Additional structural lead structural lead invictusenergy.com 20
Slide 21: Infrastructure & Markets
Infrastructure & Markets • SG 4571 proximal to existing and future pipeline SG 4571 infrastructure for the domestic and export markets • Excellent access – dual lane tarmac all the way to the permit. 2 hours from Harare by road • Located in a non-farming area on State Land with extremely low number
Slide 22: Zimbabwe: Open for Business
Zimbabwe: Open for Business New Zimbabwe President Emmerson Mnangagwa has declared that “Zimbabwe is open for business” Significant new investment activity is underway New government has implemented investor friendly economic reforms Experienced mining industry executive appointed as Minister of Min
Slide 23: Summary
Summary Invictus Energy has secured an 80% equity stake in SG 4571* containing the Mzarabani gas- condensate prospect. 3.9 Tcf + 181 million bbl condensate prospect plus additional potential in stacked target – the largest undrilled seismically defined structure onshore Africa SG 4571 granted in Aug
Slide 24: Appendix
Appendix invictusenergy.com invictusenergy.com
Slide 25: SG 4571 Work Program & Budget Estimate
SG 4571 Work Program & Budget Estimate YEAR 1 YEAR 2 Transaction Completion $0.75m Working Capital $0.50m Working Capital $0.50m G&G Studies $0.10m Gravity/Aeromag Data Processing $0.05m Third Party Certification $0.10m Seismic Re-Processing (800km) and G&G $0.50m Interpretation - ongoing Farm-o
Slide 26: Investing in Zimbabwe – Perception vs. Reality
Investing in Zimbabwe – Perception vs. Reality Perception Reality Security of mining and resources tenure in Zimbabwe has well developed mining laws based on its long history as a mining jurisdiction. It has over 100 years Zimbabwe is high risk of history in mining with a legislative framework that
Slide 27: Regional Karoo Hydrocarbon Discoveries
Regional Karoo Hydrocarbon Discoveries Estimated Ultimate Country Discovery HC Type Recovery (2P/2C) Ethiopia El Kuran Oil 155 million bbl Ethiopia Calub & Hilala Gas-Cond 6.0 – 8.0 Tcf Ethiopia Calub South Oil - Ethiopia Magan Oil - Ethiopia Genale Gas-Cond 460 Bcf + 78 million bbl Kenya Bogal Gas
Slide 28: Regional Corporate Activity Snapshot
Regional Corporate Activity Snapshot Transaction Equity Equity Value Total Value Year Country Block Buyer Seller Asset Stage Type Acquired US$(M) US$(M) South Africa, Block 11B/12B & 2B, 2018 Africa Oil Africa Energy Corporate Exploration 6.09% 18 295 Namibia PEL 37 2017 Kenya, Ethiopia Various Maer
Slide 29: Glossary
Glossary Abbreviations Conversions mmbbls – millions of barrels of oil or condensate 1 BOE = 5,800 scf natural gas mmboe – millions of barrels of oil equivalent 1 mmboe = 5.6 Bcf scf – standard cubic foot 1 Tcf = 1,000 Bcf mscf – thousands of standard cubic feet mmscf – millions of standard cubic fe
Slide 30: Cabora Bassa Project
Invictus Energy Ltd (ASX: IVZ) Cabora Bassa Project SG 4571 – Conventional Oil & Gas invictusenergy.com invictusenergy.com