Invictus Energy Limited · ASX:IVZ

Invictus Energy — Africa Oil Week 2019

26 slides from Invictus Energy's conference presentation, Nov 6, 2019

  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. 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

  13. 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.

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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.

  20. 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

  21. 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

  22. 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

  23. 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

  24. 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

  25. 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

  26. 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

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