Invictus Energy Limited · ASX:IVZ
Invictus Energy — Non-Deal Roadshow (September 2018)
25 slides from Invictus Energy's roadshow presentation, September 2018
Slide 1: Cabora Bassa Project
Invictus Energy Ltd (ASX: IVZ) Cabora Bassa Project SG 4571 – Conventional Oil & Gas September 2018 East Coast Roadshow 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: Overview
Overview Invictus is the first mover in one of the largest under-explored interior rift basins in Africa Invictus has an 80% interest and operatorship of Special Grant 4571 which covers 250,000 acres in Zimbabwe over the most prospective part of the Cabora Bassa Basin Contains potentially the larges
Slide 4: 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 5: Directors & Management
Directors & Management Scott Macmillan – Managing Director Mr. Macmillan is a Reservoir Engineer and founder of Invictus Energy Resources. 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)
Slide 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 12: 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 P1 8220 1. 1 1.6 1. 7 1. P1 V2 1. 8 1.7 4 1. 1.1 P2 2 8210 0.7 P2 V2 1. 3 1. 1. P3 5 1 8200 P4 0.6 P5 1. 7 8190 1. 1. 6 9 2 2.1 1. 1. 8 8 0. Top Upp Angw
Slide 13: Mzarabani Prospect – Seismic Line 013 D D’
Mzarabani Prospect – Seismic Line 013 Proposed Mzarabani-1 Well D D’ North South Multiple horizons can be targeted by a single well Top Forest Top U. Angwa Top L. Angwa D Line 90MZIH-013 Top Permian? 5 km 5 D’ Line 90MZIH-013 invictusenergy.com 13
Slide 14: 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 15: Gravity Data Reprocessing – New Leads Appearing
Gravity Data 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 t
Slide 16: Mzarabani Prospect – Upper Angwa Inputs
Mzarabani Prospect – Upper Angwa Inputs Mobil studies concluded that the Mzarabani Prospect contains conventional gas-condensate reservoir properties *Based on Mobil inputs of primary Upper Angwa reservoir target only and does not include other prospective horizons invictusenergy.com 16
Slide 17: 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 18: 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 19: Forward Work Plan
Forward Work Plan 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 Re-evaluate Mobil legacy data – underway (Q3 2018) • Aeromagnetic and gravity data integration • Geochemical data • 2D seismic data repro
Slide 20: Summary
Summary Invictus Energy has secured an 80% equity stake in SG 4571* containing the Mzarabani gas- condensate prospect. TCF+ potential – the largest undrilled seismically defined structure onshore Africa SG 4571 granted in August 2017 with first 12 month work program already completed – fully funded
Slide 21: Appendix
Appendix invictusenergy.com invictusenergy.com
Slide 22: 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 Farm-out Process $
Slide 23: 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 24: 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 25: Cabora Bassa Project
Invictus Energy Ltd (ASX: IVZ) Cabora Bassa Project SG 4571 – Conventional Oil & Gas invictusenergy.com invictusenergy.com