Invictus Energy (ASX:IVZ) identifies significant gas and condensate prospects

Invictus Energy Limited (ASX:IVZ) has identified a prospective resource of 2.9 Tcf gas and 184 million bbl condensate across eight prospects in the eastern Cabora Bassa Basin in Zimbabwe. The vertically stacked prospects enable individual exploration wells to test multiple targets, significantly de-risking the eastern basin prospectivity. The Company plans to focus its next exploration drilling campaign on the Musuma prospect, estimated to contain over 1 Tcf of gas, to test the eastern gas prospectivity and further appraisal drilling in the Mukuyu gas field.

Managing Director's Comments on Prospectivity and Exploration Strategy

Managing Director Scott Macmillan expressed satisfaction with the results from the CB23 seismic survey, identifying material prospectivity in the eastern portion of their acreage. He highlighted that exploration success at these prospects would unlock significant value in the portfolio and align with the Company's early gas monetisation strategy. Macmillan also mentioned the identification of high-confidence drill targets for the Company's next exploration campaign and looks forward to providing further updates as they progress the Mukuyu gas field testing and appraisal, farm out, and the wider Cabora Bassa exploration program.

Summary of Prospective Resource and Outlook

Invictus Energy Limited has defined a significant prospective resource of 2.9 Tcf gas and 184 million bbl condensate across eight prospects in the eastern Cabora Bassa Basin. The Company's next exploration drilling campaign will focus on the Musuma prospect, estimated to contain over 1 Tcf of gas, to test the eastern gas prospectivity and further appraisal drilling in the Mukuyu gas field. The presence of hydrocarbons in the Angwa Formation at Mukuyu has de-risked the presence of mature source rocks in the basin, indicating positive prospects for the Dande play in the wider basin. The Company plans to conduct a further evaluation of the Basin Margin play to select additional prospects for a future drilling campaign. Invictus Energy's ambitions include unlocking significant value in their portfolio and aligning with their early gas monetisation strategy.