Invictus Energy Limited · ASX:IVZ
Invictus Energy — Good Oil & Gas Conference 2023
29 slides from Invictus Energy's conference presentation, September 2023
Slide 1: Invictus Energy Ltd Investor Presentation
Invictus Energy Ltd (ASX: IVZ) (OTCQB: IVCTF) Good Oil & Gas Conference Investor Presentation Scott Macmillan Managing Director September 2023
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: Building on the momentum of our successful, basin opening wildcat well
Building on the momentum of our successful, basin opening wildcat well Mukuyu-2 high impact appraisal well planned to spud in September 2023 Mukuyu-1 established a working petroleum system in the previously undrilled Cabora Bassa Basin, Zimbabwe The well encountered multiple light oil, gas- condensa
Slide 4: 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 Africa, defined by high quality data set LISTED 2018 Basin master position with 360,000-hectare Successful basin opening Mukuyu-1 wildcat well confirmed
Slide 5: Board & Management
BOARD & MANAGEMENT Experienced Board additions leverages expertise from successful African E&P independents JOE MUTIZWA JOHN BENTLEY ROBIN SUTHERLAND SCOTT MACMILLAN GABRIEL CHIAPPINI BARRY MEIKLE Deputy Chairman & Non- Non-Executive Chairman Non-Executive Director Managing Director Non-Executive Di
Slide 6: Cabora Bassa Prospect & Lead Map: Scale & Running Room
CABORA BASSA PROSPECT & LEAD MAP: SCALE & RUNNING ROOM New 2023 seismic survey will aid maturation of new leads to the existing material portfolio of drill ready prospects CENTRAL FAIRWAY TARGETS TOTAL1 A MUKUYU B MSASA C MAHOGANY D MACHABEL E MUSUMA F MOPANE +4.3 Billion BOE 20 Tcf + 845 mmbbl 1.2
Slide 7: Mukuyu-1 Results
MUKUYU-1 RESULTS The well encountered multiple light oil, gas- condensate and helium bearing reservoirs Top Dande MUDGAS SHOWS MULTIPLE MATURE SOURCE PRESENCE OF LIGHT INTERPRETED ROCKS SAMPLED Top Forest OIL/GAS CONDENSATE HYDROCARBON- SWC & cuttings confirm the presence of mature U. Angwa CGR 30-1
Slide 8: Mukuyu-2 Well Design & Trajectory
MUKUYU-2 WELL DESIGN & TRAJECTORY Mukuyu-2 well targeting horst structure 450m updip from Mukuyu-1 SW Mukuyu-1 Mukuyu-2 (Planned) NE Approx MUKUYU-2 Depth Target to Fm Top 1.9 Tcf + 77 MMbbl 570mMD Dande 4.5 Tcf + 181 MMbbl Intra Dande 4.5 Tcf + 183 MMbbl 1,050mMD Forest 2.5 Tcf + 102 MMbbl 1740mMD
Slide 9: Mukuyu-2 Appraisal Objectives
MUKUYU-2 APPRAISAL OBJECTIVES Mukuyu-2 targets central horst block of Mukuyu structure to confirm gas-condensate discovery MUKUYU-2 APPRAISAL WELL DESIGN & OBJECTIVES MUKUYU: TOP UPPER ANGWA STRUCTURE MAP (PRIMARY TARGET) Located in central horst area approximately 6.8km northeast of Mukuyu-1 Signif
Slide 10: CB23 2D Infill Seismic Acquisition Program Completed
CB23 2D INFILL SEISMIC ACQUISITION PROGRAM COMPLETED Recently completed successful 425km 2D seismic acquisition program to enable maturation of eastern leads • 425 km of high resolution 2D seismic data CABORA BASSA BASIN acquisition completed on schedule and on budget • Existing leads display seismi
Slide 11: Basin Margin Play Overview – String of Pearls Prospects
BASIN MARGIN PLAY OVERVIEW – “STRING OF PEARLS” PROSPECTS Closure against basin bounding fault sets up traps at multiple horizons. 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 MUKAMBA H MUKWA A B C D E F H
Slide 12: Zimbabwe Geopolitical Overview
ZIMBABWE GEOPOLITICAL OVERVIEW Zimbabwe has provided a conducive investment environment with implementation of pro-business reforms REGULATORY & LEGAL FRAMEWORK Amended Indigenization Petroleum Production & Empowerment Act Sharing Agreement (PPSA) 100% foreign ownership of assets Administered by Min
Slide 13: Cabora Bassa History and Future Project Strategy
CABORA BASSA HISTORY AND FUTURE PROJECT STRATEGY Invictus has systematically progressed and de-risked the Cabora Project and has a strategy to rapidly monetise following success Invictus acquires Cabora Environmental Impact 840 km CB21 seismic Mukuyu-1 well drilled – Mukuyu-2 appraisal Mukuyu-2 well
Slide 14: Southern Africa's Gas & Energy Crisis
SOUTHERN AFRICA’S GAS & ENERGY CRISIS Southern Africa is facing an energy crisis with increasing shortages of gas & electricity hampering industry and investment Electricity Supply Shortage – “Load Shedding” South Africa Electricity Load Shedding – GWh1 • Acute regional power deficit is worsening wi
Slide 15: Multiple Monetisation Pathways
MULTIPLE MONETISATION PATHWAYS Multiple transportation routes to markets across existing infrastructure with spare capacity Infrastructure Offtake Option Major Routes to Market Tanzania Dar es Salaam • Twin Harare-Beira liquids pipeline (800km) and connect to DRC 1 Gas Pipeline ROMPCO pipeline (600
Slide 16: Multiple Monetisation Opportunities
MULTIPLE MONETISATION OPPORTUNITIES Multiple high value markets in desperate need of new short, medium and long term supply Markets Opportunity Supply Options • Gas to Power can be generated locally and excess exported Tanzania Power to neighbouring countries through Southern Africa Power DRC Genera
Slide 17: Invictus' Investment Proposition
INVICTUS’ INVESTMENT PROPOSITION HIGH VALUE ASSETS & NEAR-TERM MATURATION ACTIVITY DOMINANT POSITION IN NEW EXTENSIVE PROSPECT DEEP BOARD & MANAGEMENT NEAR-TERM, HIGH IMPACT PETROLEUM BASIN PORTFOLIO EXPERTISE EXPLORATION ACTIVITY SG 4571 & EPOs 1848/49 located in Multiple play types and material po
Slide 18: Contact
Contact: Scott Macmillan Managing Director E: info@invictusenergy.com P: +61 (8) 6102 5055 This presentation was approved for release by Invictus Energy Board
Slide 19: Appendix
APPENDIX
Slide 20: 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 (6 September 2023) $0.185 Shares on Issue (m) 1,190m Market Capitalisation1 $220.1m Options / Performance Rights (m) 387.1m Di
Slide 21: 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 22: Central Fairway Play Comparison
CENTRAL FAIRWAY PLAY 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 disc
Slide 23: Basin Margin Play Comparison
BASIN MARGIN PLAY 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 to
Slide 24: 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 • 243 mm bbls - 16km2
Slide 25: 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 26: 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) ($M) PTTEP COVE Mozambique 9 1900 224 Exxon ENI Mozambique 25 2800 112 ONGC Anadarko Mozambique 10 2600 26
Slide 27: NGS REDD+ Carbon Offset Project Overview
NGS REDD+ CARBON OFFSET PROJECT OVERVIEW
Slide 28: Carbon Offset Project – NGS REDD+
CARBON OFFSET PROJECT – NGS REDD+ NGS REDD+ PROJECT OVERVIEW Key Metrics CARBON CREDIT PRICE OUTLOOK – USD$ / 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 C
Slide 29: Contact
Contact: Scott Macmillan Managing Director E: info@invictusenergy.com P: +61 (8) 6102 5055 This presentation was approved for release by Invictus Energy Board