Invictus Energy Ltd (QB) (IVCTF) 銘柄情報

December 18, 2024... Letter from the Managing Director

https://www.invictusenergy.com/letter-from-the-md/

We were extremely pleased to announce the final independent review of the Petroleum Production Sharing Agreement (PPSA) was completed last month, with execution expected imminently.

The PPSA is designed to ensure equitable sharing of value generated from the Cabora Bassa Project and will also provide a robust governing framework for Zimbabwe’s oil and gas sector.

The review, completed by external European legal counsel, is a major milestone for the Company and is now fast approaching completion.

Once executed, the PPSA will ensure the long-term success of the Cabora Bassa Project, which has potential to address the region’s growing demand for a reliable energy source.

Notably, the Mutapa Investment Fund – which committed to underwriting US$5 million of a US$10 million capital raise earlier in 2024 – has been assigned the beneficiary of the PPSA product/profit share arrangement and equity holder, on behalf of the Republic of Zimbabwe.

The Company’s transition from explorer to developer continues to progress and Invictus has achieved significant exploration success this year.

In September we announced eight new high potential prospects had been defined in the eastern Cabora Bassa Basin totalling an estimated 2.9 trillion cubic feet (Tcf) gas and 184 million barrels of condensate.

This was a huge milestone for the Invictus team and highlights significant further potential of the project, in addition to the significant Mukuyu Gas Field discovered in late 2023.

In 2025, our exploration focus will turn to the Musuma prospect to test the Dande play in eastern Cabora Bassa. This prospect has interpreted seismic amplitude support and is estimated to have a recoverable prospective resource of more than 1 Tcf and 73 million barrels of condensate.

Additionally, we plan to complete 3D seismic and further appraisal drilling at the Mukuyu Gas Field to determine future development well locations and commence the planned pilot project to provide gas to power for the nearby Eureka Gold Mine. I look forward to providing further updates once the sequencing and timing of the program is confirmed.

We continue to discuss strategic partnerships and farm-out options with a range of stakeholders that have the potential to provide both the capital and expertise to support further exploration and development of the Cabora Bassa Project.

From a corporate perspective, the successful US$10 million Institutional Placement completed in August provided us with the necessary funds to progress exploration activities and expand our resource base.

The support we received from a range of strategic institutional investors, particularly the Republic of Zimbabwe’s Mutapa Investment Fund, is testament to the quality of the Cabora Bassa Project and reinforces the Government’s confidence in its potential to deliver significant strategic value to the region.

Listing on the Victoria Falls Security Exchange (VFEX) as part of the placement is enabling greater domestic investment in the Company.

Last month I was fortunate to attend the AEC African Energy Week in Cape Town where I was invited to participate in a panel discussion on the vital role gas will play in Africa’s future.

It was great to join likeminded industry leaders and share the journey of our Cabora Bassa Project, outlining how Invictus is set to unlock one of the last frontier basins in onshore Africa, with the potential to drive long-term benefits across communities and industry.

While there are too many people to acknowledge for the work put in behind the scenes over recent months to progress the Cabora Bassa Project, I’ve been humbled by the enormous amount of growing interest in and support for Invictus.

We are on the cusp of something special, not only in terms of delivering a long-term, high value natural resource development project, but helping overcome critical energy issues that have been crippling at regional scale for many years.

I thank our shareholders for their patience and commitment, and look forward to providing more operational and corporate updates as they take shape in 2025.

https://www.invictusenergy.com/letter-from-the-md/


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Yes...

https://www.sundaymail.co.zw/invictus-eyes-10-000-jobs-in-oil-gas-sector

And...

Invictus plans further drilling for oil, gas

https://www.thezimbabwemail.com/business/invictus-plans-further-drilling-for-oil-gas/



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Invictus Eyes 10,000 jobs in oil, gas sector
Oliver Kazunga
Senior Business Reporter
Sunday Mail
November 10, 2024
Website wouldn't let me copy it.. but here is the link:

Invictus eyes 10 000 jobs in oil, gas sector | The Sunday Mail

Invictus plans further drilling for oil, gas...

Harare – Australian energy firm Invictus Energy is set to expand its exploration and drilling activities in northern Zimbabwe, targeting the Musuma area in the Cabora Bassa Basin.

Following last year’s discovery of vast natural gas and oil reserves in Mbire, Mashonaland Central Province, the company has identified Musuma as a high-potential site for further exploration in 2025.

According to Invictus Energy’s latest quarterly report ending September 30, 2024, the Musuma prospect has emerged as a key candidate for the upcoming drilling campaign. “The Musuma prospect has interpreted seismic amplitude support and is estimated to hold a recoverable prospective resource of 1,170 billion cubic feet (Bcf) of gas and 73 million barrels of condensate,” the report stated. The Exalo 202 rig remains at the Mukuyu-2 site and will be mobilised to Musuma for drilling next year.

Expanding Exploration in the Cabora Bassa Basin
The Mukuyu-2 well, located just seven kilometres from the initial Mukuyu-1 site, was successfully drilled and confirmed as a major gas and oil discovery. Mukuyu-1, which initially encountered technical difficulties, was ultimately declared a success after data from both wells were evaluated, underscoring the potential of the Mukuyu fields in Mbire district.

Invictus Energy also holds exploration blocks in Muzarabani, a region near the Mukuyu sites, with additional potential for gas condensate – a type of light oil. The Zimbabwean government recently extended Invictus’s exploration licence for the Cabora Bassa region, enabling further exploration activities through to June 2027. A comprehensive work programme, including advanced 3D seismic acquisition and additional drilling, is planned for this period.

Progress on Petroleum Production and Power Generation Plans
A major milestone in Invictus’s project is the pending Petroleum Production Sharing Agreement (PPSA) with the Zimbabwean government, which guarantees a 40 percent share of hydrocarbon profits for the state. The company has also finalised plans for well testing of Mukuyu-2 and 3D seismic mapping to refine resource evaluations in preparation for a gas-to-power pilot project.

In April, Invictus signed a Memorandum of Understanding with Dallaglio Investments and Himoinsa Southern Africa to establish a gas-to-power project supplying electricity to the Eureka Gold Mine. This initiative aims to fast-track commercialisation of the Mukuyu resources and address Zimbabwe’s ongoing power shortages, which reach a peak demand of 2,200 MW, especially during winter. Zimbabwe currently relies on electricity imports, leading to frequent outages that disrupt commercial and residential areas.



Further, Invictus has expanded its agreement with Mbuyu Energy to develop a 500MW gas-to-power project, which could eventually scale up to generate 1,000 MW. An estimated 1.4 trillion cubic feet of natural gas will be needed to sustain this capacity, potentially easing Zimbabwe’s reliance on imported power and supporting the integration of renewable energy into the national grid.

Regional and Global Impact of Mukuyu Gas Discovery
Invictus’s Mukuyu field discovery, spanning over 200 square kilometres, is poised to be a significant contributor to Africa’s energy reserves. Global research firm Wood Mackenzie recently classified the Mukuyu field as Africa’s second-largest petroleum reserve, following two major gas finds in the Upper and Lower Angwa geological reservoirs. The Mukuyu resource is estimated to contain up to 20 trillion cubic feet of gas and 845 million barrels of condensate, positioning Zimbabwe as a key player in the African energy sector.

The successful commercialisation of these resources could propel Zimbabwe’s economy, creating thousands of jobs, boosting export revenues, and enhancing government income. The planned Mukuyu gas-to-power projects also have the potential to provide substantial power generation capacity to the Southern African Power Pool, helping address regional electricity shortages and facilitating broader economic stability.

Towards Energy Security and Economic Growth
With Invictus’s exploration underway, Zimbabwe is moving closer to achieving energy security, potentially reducing power outages and supporting new downstream industries. As Minister of Finance, Economic Development, and Investment Promotion Professor Mthuli Ncube noted, “These advancements in energy will underpin Zimbabwe’s structural transformation, as reliable energy is crucial for our country’s economic development and resilience.”

As Invictus continues its ambitious plans in the Cabora Bassa Basin, Zimbabwe’s energy landscape stands on the brink of transformation. The Musuma drilling campaign and continued evaluation of Mukuyu’s resources signal promising developments for the country’s energy independence, economic growth, and industrial expansion, setting the stage for Zimbabwe’s emergence as a significant energy producer on the African continent.

https://www.thezimbabwemail.com/business/invictus-plans-further-drilling-for-oil-gas/



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Highlights...




https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02847877-6A1223623&v=fc9bdb61fe50ea61f8225e24ce041a0e155a9400



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Some news...

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02847877-6A1223623&v=fc9bdb61fe50ea61f8225e24ce041a0e155a9400

Caveat Emptor

Halted today

Shareholder briefing webinar - June 2024





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May 2024 Presentation...

https://www.invictusenergy.com/wp-content/uploads/2024/05/61207449.pdf



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New 2D seismic data interpretation.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02803487-6A1206255


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March 2024 quarterly activities report.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02801162-6A1205197



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MOU for a proposed gas-to-power project for Dallaglio’s Eureka Gold Mine.

https://www.otcmarkets.com/otcapi/company/dns/news/document/74086/content


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Further fluid sample analyst confirms rich gas-condensate gas and oil potential.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02787670-6A1199466



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Invictus’ gas deposits second biggest in sub-Saharan Africa

https://www.herald.co.zw/invictus-gas-deposits-second-biggest-in-sub-saharan-africa/amp/



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https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02758241-6A1188127

Management hasn't exactly been share holder friendly-

unfortunately...there's currently Major headwinds against fossil fuel investment especially in frontier africa
futr

Why the hell couldn't they hold off a little and line up a JV partner???

Jesus friken christ...

If they think they are going to do this alone they need to come up with a much better way to raise money. They have been handing out shares like buckets of candy.

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The commercial supply agreements are most encouraging!

futr

More news....

https://www.invictusenergy.com/wp-content/uploads/2023/12/61186863.pdf

https://www.invictusenergy.com/wp-content/uploads/2023/12/61186865.pdf


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A second discovery and it tanks 35%.

Geeeezzz

Hopefully there is a nice move after all this profit taking.


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https://www.invictusenergy.com/wp-content/uploads/2023/12/61186610.pdf

futr

The whole world has turned upside down...


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I'm sure they are considering a joint venture partner. One with cash, equipment, and expertise.


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Just a wild thought...but why not a tier 1 development partner?

futr

Another trading halt. Be nice if there was oil too.

https://www.invictusenergy.com/wp-content/uploads/2023/12/61186216.pdf


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TD reached...

https://www.invictusenergy.com/wp-content/uploads/2023/12/61185735.pdf


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Webinar...

The focus is now set on completing the Mukuyu-2 sidetrack well and evaluation program with the aim of declaring an additional discovery from the previously untested Lower Angwa formation.




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Invictus PR out now....

https://www.invictusenergy.com/wp-content/uploads/2023/12/61185283.pdf


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Zimbabwe Celebrates Milestone Gas Discovery: Invictus Energy Unveils First-Ever Triassic-Aged Hydrocarbon in Sub-Saharan Africa
Chris Matambanadzo by Chris MatambanadzoDecember 6, 2023in Business, Local Zimbabwe News


https://iharare.com/gas-discovered-in-zimbabwe/

Invectos hasn't put out a PR yet. That was from the government of Zimbabwe. They had to be told first and they out out a notice.

https://stkt.co/Q9ZQpk_5

I don't know if that link will work.


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This is all I found-

https://www.invictusenergy.com/wp-content/uploads/2023/12/61184582.pdf

futr

Zimbabwe news says Invictus declares gas discovery...


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Thanks...we need something encouraging!

futr

News very soon...

https://www.invictusenergy.com/wp-content/uploads/2023/12/61184824.pdf


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This shows confidence...

Rig 202 Contract Extended for 2 years for future Cabora Bassa Drilling.

https://www.invictusenergy.com/wp-content/uploads/2023/12/61184206.pdf


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Sidetrack drilling underway...

https://www.invictusenergy.com/wp-content/uploads/2023/11/61182830.pdf


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Not yet. As they usually do, they will likely figure out how to deal with it. I'm thinking there would also be less trouble with drilling holes and sticking pipe down them for production wells.


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Did you get a chance to watch?

The instability of these 3,000 meter+ holes has plagued the company so far.

futr

Shareholder Webinar Details

A shareholder briefing will be conducted at 11:00 AEDT / 08:00 WST to discuss the results of the
Mukuyu-2 well to date and the forward operations.


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Hydrocarbon gas recovered and evaluation program forward plan.

HIGHLIGHTS
▪ Hydrocarbon gas recovered from Pebbly Arkose downhole sample


▪ Wireline log interpretation identifies multiple hydrocarbon bearing intervals in Upper
and Lower Angwa reservoir sands

▪ Upper Angwa initial fluid sample clean-up shows moveable gas and liquid hydrocarbons
flowing through onboard compositional fluid analyser (CFA)

▪ Vertical sidetrack required to complete wireline and fluid sampling program in Upper
and Lower Angwa targets

▪ Company funded to complete the Mukuyu-2 sidetrack operations

▪ Mukuyu-2 to be preserved for future well test post sidetrack

▪ Shareholder webinar briefing to discuss preliminary results and forward plan

“Further evaluation results continues to reaffirm the presence of moveable hydrocarbons at Mukuyu-2,
evidenced by the recovery of natural gas from the Pebbly Arkose formation and further wireline logging
data interpretations obtained from the Upper and Lower Angwa reservoirs.“Due to compounding sampling challenges, borehole conditions and well control measures the Company, n conjunction with our service providers, have determined a simple vertical sidetrack will provide the strongest opportunity to achieve our remaining Upper and Lower Angwa evaluation objectives. “The Company is currently funded to conduct and evaluate the planned sidetrack operations, with thecompletion allowing the well to be suspended for future flow testing.I thank our shareholders for their patience as we conduct the sidetrack well and finalise the evaluation program, I invite you to attend today’s webinar briefing to discuss the initial results and forward plan."

https://www.invictusenergy.com/wp-content/uploads/2023/11/61181323.pdf


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TD reached, doing wireline now. Looking even better...

https://www.invictusenergy.com/wp-content/uploads/2023/10/61177186.pdf


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HIGHLIGHTS

• Strong gas shows (up to 157 times above background), fluorescence and elevated
LWD resistivity encountered in multiple Upper Angwa reservoirs

• Similar strong gas shows (up to 151 times above background), fluorescence and
elevated LWD resistivity encountered in multiple Lower Angwa reservoirs –
potentially opening up a substantial new play in the Cabora Bassa basin

• Liner mobilised in preparation to complete the Mukuyu-2 well for a future flow test

• Preparing to drill ahead and potentially deepen beyond planned 3,750 mMD
following positive results in Lower Angwa and then conduct wireline logging
Invictus Energy Limited (“Invictus” or “the Company”) is pleased to provide an update of
drilling the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in
Zimbabwe

https://www.invictusenergy.com/wp-content/uploads/2023/10/61176041.pdf


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Looking REALLY good here folks...

https://www.invictusenergy.com/wp-content/uploads/2023/10/61176041.pdf


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Spud the 17th...


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Rig is up... Spudding just weeks away.



https://www.invictusenergy.com/wp-content/uploads/2023/09/61166148.pdf
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Oil, gas, helium, confirmed...

https://acrobat.adobe.com/id/urn:aaid:sc:AP:16ae6635-8c5a-45f5-a0c7-5ff192e961c9


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https://www.invictusenergy.com/wp-content/uploads/2023/08/61162818.pdf...Rig mobilization

futr

A message from the Managing Director

https://www.invictusenergy.com/latest-news/a-message-from-the-managing-director-2-2/


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More seismic...

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02666728-6A1150478?access_token=83ff96335c2d45a094df02a206a39ff4


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