Invictus Energy Limited · ASX:IVZ
Invictus Energy — Africa Energy Summit 2024
26 slides from Invictus Energy's conference presentation, May 14, 2024
Slide 1: Africa Energy Summit Presentation
Africa Energy Summit Presentation May 2024 INVICTUS ENERGY LTD (ASX:IVZ) Invictus Energy is an independent upstream oil and gas company focused on opening one of the last untested large frontier rift basins in onshore Africa with the new Mukuyu gas discovery in the Cabora Bassa Basin in northern Zim
Slide 2: Basin Overview
Basin Overview Invictus is positioned to become a significant regional energy supplier in a large and rapidly growing Southern African energy market 2
Slide 3: Basin History & Project Development
Basin History & Project Development Invictus has systematically progressed and de-risked the Cabora Bassa Project and has a strategy to rapidly monetise following success 1990 2018 2019 2020 2021 2022 2023 2024 Mobil Oil’s exploration of Gas Sale MOUs with Sable Petroleum Exploration 425 km CB23 sei
Slide 4: Acreage Portfolio
Acreage Portfolio MUKUYU Basin Master position covering Mukuyu-2 Discovery GAS FIELD Upper & Lower Angwa 360,000 hectares in the Cabora Bassa Basin in Zimbabwe F M-2 3 licence areas consisting of SG 4571 M-1 C B and EPO 1848 and EPO 1849 E Mukuyu-1 Discovery Upper Angwa A 80% interest and operator G
Slide 5: Mukuyu Gas Discovery
Mukuyu Gas Discovery Gas Discovery Multiple Reservoirs Two gas discoveries in Mukuyu-2 from Multiple hydrocarbon bearing MUKUYU-2 U. & L. ANGWA DISCOVERY Upper and Lower Angwa Formation reservoirs found within both the Upper & Lower Angwa, Ranked as 2nd largest oil/gas encountering 35m net pay disco
Slide 6: CB23 2D Seismic Amplitude Supported Prospects
CB23 2D CB23-15, Far Stack Seismic Dande Fm. Inferred HCWC Amplitude Mururo Forest Fm. Supported Mopane Prospects Mimosa Mukwa Musuma CB23 2D seismic reveals Up-dip brightening amplitude-supported Flat-spot Dande formation targets MUSUMA MOPANE S N across multiple lines on CB23, CB21 & 90MZIH survey
Slide 7: Basin Margin Play
Basin Margin BASIN MARGIN TARGETS Play A KIGELIA B BAOBAB C MUNODO D ACACIA 243mmbo 509mmbo Closure against basin bounding E MARULA 92mmbo F MUKAMBA 246mmbo G MIMOSA 81mmbo H MUKWA fault sets up traps at multiple A B C horizons D E F G H Multiple drill ready prospects to unlock large resource base D
Slide 8: Multiple Monetisation Opportunities
MARKETS OPPORTUNITY SUPPLY OPTIONS Gas to Power can be generated locally and excess exported to neighbouring countries through Southern Power Africa Power Pool. Gas Sale MOU signed with Tatanga Tanzania Generation DRC Energy for up to 1,000MW gas to power. Domestic energy shortfall ~2,500MW Angola S
Slide 9: Multiple Pathways to Market
INFRASTRUCTURE OFFTAKE OPTION MAJOR ROUTES TO MARKET Twin Harare-Beira liquids pipeline (800km) and connect to 1 Gas Pipeline ROMPCO pipeline (600 mmscf/d capacity) feeding Tanzania Dar es DRC Secunda and 200+ industrial users in South Africa Salaam Angola Lubumbashi Rovuma Connect into Southern Afr
Slide 10: Basin Development
Basin Development Invictus has a clear sequenced strategy to mature the basin from the exploration phase through to full-scale development 10
Slide 11: Near-term Strategy
Near-term Strategy Invictus is progressing a comprehensive technical and commercial program to unlock value REGULATORY RESOURCE APPRAISAL & COMMERCIALISATION & & FUNDING QUANTIFICATION EXPLORATION MONETISATION Update understanding of the discovered Secure well services contractors and Develop pilot
Slide 12: Regulatory Framework
Regulatory Framework Zimbabwe has provided a conducive investment environment with implementation of pro-business reforms Petroleum Exploration Amended Indigenization Special Economic Zone Petroleum Production Development & Production & Empowerment Act Legislation Sharing Agreement Agreement ✓ ✓ ✓ 1
Slide 13: Commercial Funding
Commercial POTENTIAL FUNDING PARTNERS Funding Upstream JV Partner Farmout equity to industry partner or High project equity of 80% in future production to oilfield service company Downstream Customers strategic resource provides Offtake pre-payment to secure multiple partnering & preferential supply
Slide 14: Commercialisation & Monetisation
Appraisal & Further Exploration Build and understand resource base to underpin future development phases E&A Phase One - Pilot Development Gas to Power to Eureka Mine - Early monetisation and gathering of reservoir performance data As basin is derisked cost of capital will 1 Phase Two - Gas to Power
Slide 15: Pilot Phase – Gas to Power
Pilot Phase – Gas to Power Pilot projects will provide early monetisation of the Cabora Bassa, proof of concept and scalability STRATEGIC OUTCOME Phase One Provide ‘proof of concept’ to produce and deliver gas to consumers and scalability Delivers early cashflow Allows Invictus to gather long term d
Slide 16: Full Field Development – Gas to Power
Full Field Development – Gas to Power Phased approach as midstream infrastructure is built out to supply anchor customers INDUSTRIAL MARKET Phase Two Initial Full field development Mbuyu Energy is a Connection to SAPP will Power Purchase phase to focus on large Zimbabwean consortium allow flexible p
Slide 17: Full Field Development – Piped Gas
Full Field Development – Piped Gas Once supporting infrastructure is established gas will be piped for downstream consumption GAS PIPELINE INDUSTRIAL MARKET Phase Three + Following continued Gas pipeline infrastructure Sable Chemicals is the sole Significant additional development of Cabora build ou
Slide 18: Appendix
Appendix 18
Slide 19: 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 20: Corporate Overview
Corporate Overview $0.30 150m $0.20 100m $0.10 50m - - May-23 Aug-23 Nov-23 Feb-24 May-24 Volume Share Price CORPORATE SNAPSHOT (9/05/2024) MAJOR SHAREHOLDERS Shares on Issue 1,417m Shareholder Shares (m) % Bayethe Investments Pty Ltd 71.4 5.30% Options & Performance Rights 478m Citicorp Nominees Pt
Slide 21: Southern Africa’s Energy Crisis
Southern South Africa Gas Deficit - 2030 (PJ / year2) South Africa Electricity Load Shedding - GWh1 Africa’s 12,000 10,000 Energy 83 PJ Eskom Load Shed - Upper Limit (GWh) 8,000 Crisis 6,000 4,000 Southern Africa is facing an 2,000 -407 PJ energy crisis with increasing -490 PJ shortages of gas & ele
Slide 22: Derisked Exploration
LOKICHAR BASIN¹ CABORA BASSA BASIN Ewoi ✓ Mukuyu ✓ Flow Testing ✓ Well discovery Etuko ✓ Mahogany ✓ Kapeli Mukuyu-2 Machabel ✓ Play opener “Central Fairway” play Ewoi-1 Kedikedi Musuma “Rift Flank” play Kori Mopane Play opener ✓ Msasa Meri Mukuyu-1 10% Basin opener Baobab Future Exploration ✓ Ngorok
Slide 23: Lokichar Basin Comparison
LOKICHAR BASIN CABORA BASSA BASIN The Cabora Bassa possesses significant similarities to the Lokichar Basin 50% 25% 25% IVZ will seek to replicated the strategy employed to develop this asset and drive significant growth in the value of JV JV the project via a staged approach Operator Partner Partne
Slide 24: Central Fairway Play Comparison
LOKICHAR BASIN CABORA BASSA BASIN 90km RIFT FLANK A Etuko TARGETS B Ewoi CENTRAL FAIRWAY TARGETS A B Loperot 50km D A B F C E A Mukuyu B Msasa C Mahogany D Machabel E Musuma F Mopane • Rift Flank play identified following Loperot-1 basin opening well • Central Fairway play consist of large 4-way dip
Slide 25: Basin Margin Play Comparison
LOKICHAR BASIN CABORA BASSA BASIN1 2P / 2C 90km Field (Gross 100%) A A Etom B C B Agete 18mmbo CENTRAL FAIRWAY TARGETS BASIN MARGIN D C Twiga 87mmbo 50km TARGETS D Ekales 104mmbo E Ngamia A B C D E F G H F E Ngamia 297mmbo Baobab Acacia A Kigelia B C Munodo D 243mmbo 509mmbo Mukwa F Amosing 151mmbo
Slide 26: 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 26