Invictus Energy Limited · ASX:IVZ
Invictus Energy — Africa Oil Week 2019
26 slides from Invictus Energy's conference presentation, Nov 6, 2019
Slide 1: Africa Oil Week Presentation - Prospect Forum: Wells to Watch
Invictus Energy Ltd (ASX: IVZ) Africa Oil Week Presentation Prospect Forum: “Wells to Watch” SG 4571 – Cabora Bassa Basin, Zimbabwe 6 November 2019 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: Summary
Summary Invictus Energy Ltd is an upstream E&P company (ASX: IVZ) focused on oil and gas in Sub Saharan Africa Invictus is the 80% owner and operator of the Cabora Bassa Project containing SG 4571 exploration licence in the Cabora Bassa Basin in northern Zimbabwe SG 4571 licence contains potentially
Slide 4: 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 Results Delivered • Secured first mover advantage in high potential acreage at minimal cost • Unlocked $30m dataset
Slide 5: SG 4571 Asset Overview
SG 4571 Asset Overview Invictus is 80% owner and operator of SG 4571 in Cabora Bassa • Licence area covers 250,000 acres in most prospective part of basin • SG 4571 granted in August 2017 for initial 3 year period (renewable) • First 2 years of work program completed • Updated PSC being drafted for
Slide 6: Why Zimbabwe?
Why Zimbabwe? Overlooked jurisdiction for last 20 years due to political and economic instability New government is pro-business, promoting foreign investment and has implemented investor friendly reforms Mines Minister is a former resources industry executive that understands the needs of the resou
Slide 7: Mzarabani Prospect Schematic
Mzarabani Prospect Schematic • Single well in a huge stacked prospect to test gross 8.2 Tcf + 250 mmbbls • Additional mapped potential provides running room on success • Estimated well cost US$10 million (dry hole cost) Multiple cycles of lower Triassic • Largest, undrilled, seismically defined stru
Slide 8: SG 4571 – Completed work program
SG 4571 – Completed work program All work obligations for the initial term have been fulfilled Since acquiring SG4571, in 2017, Invictus has undertaken an active program of technical studies • Data gathering, literature review • Gravity and magnetics reprocessing and interpretation • Reprocessed of
Slide 9: Seismic Reprocessing Results
Seismic Reprocessing Results Line 90MZIH-005 Clear shallow unconformity definition Overall improved reflector continuity and fault definition Better imaging along basin margin – will better define the basin margin play potential Improved deep reflector imaging 90MZIH-005 Original Reprocessed invictu
Slide 10: Source Rock & Seal
Source Rock & Seal TOC Frequency Outcrop Sample Locations Source Rock Type Mkanga Formation Invictus Surface Outcrop Sample Program Permian July 2019 Frequency Alternations Member - Source TOC up to 40%; HI up to 380 Alternations Member - Reservoir 186 samples Mkanga - Source TOC % Kanyemba SG 4571
Slide 11: Maturity – Present Day
Maturity – Present Day Generation on structure present day Lower Triassic: Alternations Member Isopach Mid-Upper Triassic: Pebbly Arkose Isopach invictusenergy.com 11
Slide 12: Reservoirs & Seismic to Surface Geology Calibration
Reservoirs & Seismic to Surface Geology Calibration Dande-West geological sketch map – Osterlen 1998 Line 90MZIH-004 Lwr Angwa ?? Upper Angwa Pebbly Arkose Jesse/Alluvium ?? Forest Pebbly Arkose subcrop matching well with surface geology outcrop map Line 90MZIH-004 90MZIH-004 invictusenergy.com 12
Slide 13: Mzarabani Prospect – Massive Stacked Potential
Mzarabani Prospect – Massive Stacked Potential Top structure maps showing stacked, multi-target, 4-way dip anticline Mzarabani – structural 4 way dip closure • Dande: 0.4 Tcf • Forest: 1.6 Tcf • Pebbly Arkose: 1.4 Tcf + 60 mmbbls • Upper Angwa: 4.4 Tcf + 181 mmbbls • Lower Angwa: 0.4 Tcf • Total: 8.
Slide 14: Mzarabani Prospect – AVO?
Mzarabani Prospect – AVO? STACKED OBJECTIVES WITH MULTIPLE Elevated amplitudes from RESERVOIRS AND Nears to Mids SEALS AND SOURCES. STACKED POS CLOSER TO ONE IN THREE Elevated amplitudes form Mids to Fars Line 013 - NEARS NEAR VS FARS SHOW STRUCTURE Line 013 AMPLITUDE SUPPORT Line 013 - MIDS ARE SHA
Slide 15: 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, best terms and most lucrative markets Company Play Opening Discovery HC Type Carnarvon Petroleum Dorado – Western Au
Slide 16: Domestic and Regional Gas Market Overview
Domestic and Regional Gas Market Overview Zimbabwe: Strategic Location • Southern Africa desperately short of gas • Zimbabwe serves as the gateway and import/export corridor for Zambia, Botswana, DRC and Malawi to the port of Beira in Mozambique • Zimbabwe is relatively industrialised compared to ma
Slide 17: Southern Africa’s Energy Crisis
Southern Africa’s Energy Crisis Zimbabwe: Strategic Location • Southern Africa is facing an energy crisis with increasing shortages of electricity hampering industry and investment • Majority of power in the region is coal and hydroelectric • Southern African Power Pool (SAPP) established in 1993 en
Slide 18: Regional Supply/Demand Balance – Power Africa Study
Regional Supply/Demand Balance – Power Africa Study Mozambique sitting on vast gas surplus, however: • Long distance to market > 2,600km • Equivalent to touted West-East Australia pipeline distance Botswana & Namibia • LNG volumes committed > 2030 • Relatively low demand • Controlled by large IOCs u
Slide 19: South Africa’s Gas Supply Crisis
South Africa’s Gas Supply Crisis Pande-Temane: Supplies 85% of South Africa’s Gas Mossel Bay FA Complex: Supplies 15% of South Africa’s Gas Decline Commences 2023 Depleted by December 2020 Mining Weekly 18 Sept 2019 Africa Oil and Power 9 Sept 2019 Petroleum Economist 18 October 2018 invictusenergy.
Slide 20: Domestic and Regional Gas Market Overview
Domestic and Regional Gas Market Overview ROVUMA OFFSHORE 170 Tcf GAS PANDE-TEMANE GAS PRODUCTION PROFILE MARKET POTENTIAL 2 500 Pande-Temane Gas Rate Gas Production Rate Customer Use SG 4571 POTENTIAL# 400 9.25 Tcf GAS 3 ROMPCO (mmscf/d) A Sable Chemicals Fertiliser 294 MMbbl Cond 300 pipeline Well
Slide 21: SG 4571 Prospects and Leads Volumetrics
SG 4571 Prospects and Leads Volumetrics • Mzarabani – structural 4 way dip closure • Dande: 0.4 Tcf • Forest: 1.6 Tcf Mzarabani • Pebbly Arkose: 1.4 Tcf + 60 mmbbls • Upper Angwa: 4.4 Tcf + 181 mmbbls • Lower Angwa: 0.4 Tcf • Total: 8.2 Tcf + 247 mmbbls • Msasa – structural 4 way dip closure • Pebbl
Slide 22: Environmental Impact Assessment (EIA)
Environmental Impact Assessment (EIA) • EIA field work completed including community consultations and baseline studies • EIA report being compiled and expected to be completed in November 2019 • Completion and approval of EIA study will fulfil the environmental approvals required for on the ground
Slide 23: Farm In Enquiries Contact Details
Farm In Enquiries Contact Details Mike Lakin Scott Macmillan deliver@envoi.co.uk info@invictusenergy.com +61 (8) 6102 5055 invictusenergy.com
Slide 24: Company Overview
Company Overview Key Statistics – ASX: IVZ Performance Share Milestones Expiry Shares Outstanding 391,501,892 A farmout which includes a commitment to drill a well to a Performance Shares 75,767,103 Class B 31.5 M minimum planned depth of 3,000 meters with respect to the 20/06/2020 Cabora Bassa Proj
Slide 25: Directors and Management
Directors and Management Dr. Stuart Lake – Non-Executive Chairman Dr Lake has over 34 years of global experience in the Petroleum industry and significant expertise, having operated assets in 20 countries worldwide, including in over ten African countries. He brings a combination of in-depth technic
Slide 26: Independent Prospective Resource Estimate
Independent Prospective Resource Estimate Elephant scale potential Total Prospective Resource of 9.25 Tcf + 294 million barrels# of conventional gas / condensate (gross mean unrisked) across SG 4571 in Mzarabani and Msasa prospects • Independently verified by Getech Group plc from 12 month study on