Invictus Energy Limited · ASX:IVZ
Invictus Energy — Investor Presentation (March 2023)
33 slides from Invictus Energy's investor presentation, March 2023
Slide 1: Invictus Energy Ltd
INVICTUS ENERGY LTD MAR 2023 ASX:IVZ | OTCQB:IVCTF Scott Macmillan Managing Director
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: Invictus Snapshot
INVICTUS SNAPSHOT SG 4571 + EPOs 1848/49 ASSET OVERVIEW CORPORATE OVERVIEW Mukuyu is one of the largest conventional oil & gas prospects in onshore LISTED 2018 Africa, defined by high quality data set Basin master position with 360,000-hectare licence area HQ Perth WA Successful basin opening Mukuyu
Slide 4: Board & Management
BOARD & MANAGEMENT Board additions to deliver expertise from successful African E&P independents, informing IVZ’s ongoing strategy JOE MUTIZWA JOHN BENTLEY ROBIN SUTHERLAND SCOTT MACMILLAN GABRIEL CHIAPPINI BARRY MEIKLE Deputy Chairman & Non- Non-Executive Chairman Non-Executive Director Managing Di
Slide 5: Cabora Bassa Prospect & Lead Map
CABORA BASSA PROSPECT & LEAD MAP Material portfolio of drill ready prospects and leads identified through the CB21 Survey with multiple follow-up targets and running room CENTRAL FAIRWAY TARGETS TOTAL1 A B C D E F MUKUYU MSASA MAHOGANY MACHABEL MUSUMA MOPANE +4.3 Billion BOE 20 Tcf + 845 mmbbl 1.2 T
Slide 6: Mukuyu-1 Results
MUKUYU-1 RESULTS
Slide 7: Mukuyu-1 Result
MUKUYU-1 RESULT Approximate MUKUYU-1 Successful Basin Opening Well Depth to Top Structure Horizon Target Formation Comment • Working hydrocarbon system proven in the Cabora Bassa • Mukuyu-1 successfully drilled to 3,923mMD and sidetrack successfully drilled to 3,603mMD TD • Primary Upper Angwa forma
Slide 8: Mukuyu-1 Results
MUKUYU-1 RESULTS Maiden exploration campaign confirms working hydrocarbon system & has validated pre-drill basin modelling HYDROCARBON ZONES STRONG GAS & FLUORESENCE SHOWS ADDITIONAL DATA 13 potential hydrocarbon bearing zones, including Strong gas shows (up to135x background) and Analysis of the si
Slide 9: Mukuyu-1 Results
MUKUYU-1 RESULTS Mukuyu-1 results have satisfied the majority of key requirements to show a working hydrocarbon system in the Cabora Bassa PETROLEUM SYSTEM ELEMENT MUKUYU-1 STATUS • Multiple seals were intersected in the well with multiple shales, claystones and SEAL & CONTAINMENT siltstones through
Slide 10: Mukuyu-2 Appraisal Program
MUKUYU-2 APPRAISAL PROGRAM
Slide 11: Mukuyu-2 Well Objectives
MUKUYU-2 WELL OBJECTIVES Mukuyu-2 well will appraise southern flank of Mukuyu structure to confirm gas-condensate discovery MUKUYU-2 APPRAISAL WELL OBJECTIVES MUKUYU: NEAR TOP UPPER ANGWA (HORIZON 600) STRUCTURE MAP Prove gas-condensate discovery in Mukuyu and appraise structure in updip location on
Slide 12: Results Comparison
RESULTS COMPARISON
Slide 13: Lokichar Basin Comparison
LOKICHAR BASIN COMPARISON LOKICHAR BASIN¹ CABORA BASSA BASIN TULLOW TOTAL AFRICA OIL ENERGIES2 OIL The Cabora Bassa possesses significant similarities to The Lokichar Basin 50% 25% 25% IVZ will seek to replicate the strategy employed to develop this asset and drive significant Operator JV Partner JV
Slide 14: Central Fairway Target Comparison
CENTRAL FAIRWAY TARGET COMPARISON LOKICHAR BASIN¹ CABORA BASSA BASIN • Central Fairway play consist of large 4-way dip closed and 3-way faulted closure along basement • Rift Flank play identified following Loperot-1 basin opening well high trend • Ewoi-1 play opening discovery unlocked additional di
Slide 15: Basin Margin Target Comparison
BASIN MARGIN TARGET COMPARISON LOKICHAR BASIN¹ CABORA BASSA BASIN2 • 3-way and 4-way closure against basin bounding fault • 3-way and 4-way closure against basin bounding fault • Ngamia-1 play opening discovery successful in unlocking further 6 fields • 5 drill ready prospects with additional leads
Slide 16: Play Opening Similarities with Lokichar Basin - Kenya
PLAY OPENING SIMILARITIES WITH LOKICHAR BASIN - KENYA LOKICHAR BASIN¹ CABORA BASSA BASIN Play opening discoveries at Ngamai-1 and Ewoi-1 resulted in 88% overall success rate for 2 play types Successful Mukuyu-1 basin opening well is the first step in unlocking play openers Further 10 discoveries mad
Slide 17: Lokichar Basin - Exploration Program
LOKICHAR BASIN - EXPLORATION PROGRAM IVZ will seek to replicate the stage strategy employed with the Lokichar Basin to deliver substantial value ACTIVITY 2009 2010 2011 2012 2013 2014 2015 Acquisition of blocks 10A, 10BA and 10BB in Lokichar Basin by Africa Oil CORPORATE Acquisition of blocks 12A an
Slide 18: Forward Strategy
FORWARD STRATEGY
Slide 19: Cabora Bassa Forward Strategy
CABORA BASSA FORWARD STRATEGY IVZ has a clear roadmap for its future drilling and subsequent basin exploration program ACTIVITY DEC-22 JAN-23 FEB-23 MAR-23 APR-23 MAY-23 JUN-23 JUL-23 AUG-23 SEP-23 OCT-23 NOV-23 DEC-23 Permitting Approvals for Mukuyu-2 Appointment of Chairman & NED CORPORATE Execute
Slide 20: 2D Seismic Acquisition Program
2D SEISMIC ACQUISITION PROGRAM Seismic acquisition planned to mature eastern Cabora Bassa Basin leads to drillable prospects • Plans to acquire additional seismic in the CABORA BASSA BASIN eastern portion of EPO 1848 & 1849 to mature multiple leads • The leads all display seismic amplitude anomalies
Slide 21: NGS REDD+ Carbon Offset Project Overview
NGS REDD+ CARBON OFFSET PROJECT OVERVIEW
Slide 22: Carbon Offset Project
CARBON OFFSET PROJECT NGS REDD+ PROJECT OVERVIEW Key Metrics CARBON CREDIT PRICE OUTLOOK – USD$ / t-CO2e¹ Ngamo Project Area 102,900ha Lower Price Range Upper Price Range Gwayi Project Area 54,400ha $200 Sikumi Project Area 144,265ha $150 $150 Total NGS Project area 301,565ha Potential Carbon Credit
Slide 23: Accreditation Requirements
ACCREDITATION REQUIREMENTS REDD+ Projects must satisfy four key criteria to produce carbon credits that can then be sold NGS REDD+ OPERATIONAL STRUCTURE Invictus has created a division called Miombo Forest Carbon Investments (MFCI) to develop and manage NGS REDD+ project 50% and carbon credits, with
Slide 24: Invictus Investment Opportunity
INVICTUS INVESTMENT OPPORTUNITY Basin Master position with SG 4571 Carbon Neutral cradle to grave Strategically positioned to supply Government providing supportive Highly experienced and equity + EPOs 1848/49 & substantial through NGS REDD+ project into Southern African market with environment for
Slide 25: Appendix
APPENDIX
Slide 26: Corporate Overview
CORPORATE OVERVIEW Strongly aligned Board & Management, with significant equity positions on the IVZ register INVICTUS ENERGY LIMITED (ASX:IVZ) CAPITAL STRUCTURE Share Price (15 March 2023) $0.125 Shares on Issue (m) 888m Market Capitalisation1 $111.0m Options / Performance Rights (m) 251m Enterpris
Slide 27: Geopolitical Overview
GEOPOLITICAL OVERVIEW New Zimbabwean Government are promoting foreign investment & has implemented investor friendly reforms REGULATORY & LEGAL FRAMEWORK Amended Indigenization PPSA & Empowerment Act Administered by Ministry of 100% foreign ownership of Energy & Power Development assets Production S
Slide 28: Downstream Markets
DOWNSTREAM MARKETS Multiple large scale power generation, mining, chemical processing & industrial downstream consumers within Southern Africa POWER GENERATION FERTILIZER MINING Gas to Power can be generated locally and excess Zimbabwe and Zambia are large agricultural based Significant number of mi
Slide 29: Southern Africa's Energy Crisis
SOUTHERN AFRICA’S ENERGY CRISIS Increasing shortages of electricity hampering industry SOUTHERN AFRICAN ENERGY SUPPLY and investment Legend H Hydro Station • Southern African Power Pool (‘SAPP’) enables cross-border electricity trading between states: P Pumped Storage Scheme — 12 member countries se
Slide 30: Lokichar Basin Kenya vs Cabora Bassa Basin Opening Wells
LOKICHAR BASIN KENYA VS CABORA BASSA BASIN OPENING WELLS PLAY OPENER NGAMIA-1: 297m BARREL DISCOVERY WITH 3,163 BOPD ON TEST¹ BAOBAB-1 PROJECTED WELL PATH (CB21-008) Ngamia-1 Predrill 2D seismic Baobab-1 Predrill 2D seismic P50 estimate: P50 estimate: • 45 mmbbls - 5km2 closure • 120m bbls - 16km2 c
Slide 31: Basin Margin Play – "String of Pearls" Prospect
BASIN MARGIN PLAY – “STRING OF PEARLS” PROSPECT Closure against basin bounding fault sets up traps at multiple horizons – potentially more liquid prone with multiple drill ready prospects to unlock large resource base BASIN MARGIN TARGETS A KIGELIA C MUNODO E MARULA G MIMOSA B BAOBAB D ACACIA F MUKA
Slide 32: Transactions on Frontier Africa Exploration Success
TRANSACTIONS ON FRONTIER AFRICA EXPLORATION SUCCESS Exploration success provides superior returns WORKING INTEREST TRANSACTION COST IMPLIED VALUE per WI% BUYER SELLER COUNTRY PURCAHSED (%) ($M) ($M) PTTE COVE Mozambique 9 1900 224 Exxon ENI Mozambique 25 2800 112 ONGC Anadarko Mozambique 10 2600 260
Slide 33: Contact
MAR 2023 Contact: Scott Macmillan Managing Director E: info@invictusenergy.com P: +61 (8) 6102 5055 This presentation was approved for release by Invictus Board