Invictus Energy Limited (ASX:IVZ) is an independent oil and gas exploration and development company. Invictus is engaged in the exploration of oil and gas assets in one of the largest rift basins in onshore Africa. The Company operates conventional oil and gas assets in the prolific Cabora Bassa Basin- SG 4571, in the northern part of the Republic of Zimbabwe.
Invictus holds 80% working interest in the SG 4571 tenement package, spread over 250,000 acres in the Cabora Bassa Basin. The exploration licence is granted till 2023. The SG 4571 Project is highly underexplored and hosts the largest undrilled structure in onshore Africa. The Mzarabani prospect on the project holds a considerable reserve of natural gas and condensate. The prospect is estimated to hold 9.25 Tcf of gas and 294 million barrels of condensate as a Prospective Resource.
The project area was previously explored by Mobil Oil. Mzarabani anticline, which is the largest undrilled structure in onshore Africa runs through the prospect. The anticline feature has over 200 square kilometres under closure and 500m vertical relief. It lies at a depth that is favourable for the occurrence of conventional oil and gas.
Invictus has a strategy in place to add assets with a high potential to its portfolio to deliver high growth to its shareholders and contribute towards the development of the community. The Company aims to acquire under-developed or emerging assets and then use its technical expertise and experience to develop the asset.
Invictus signed a Petroleum Exploration Development and Production Agreement (PEDPA) with the Government of the Republic of Zimbabwe in 2021. The PEDPA will provide Invictus the right to enter production licence for 25 years after the conclusion of the exploration period.
Invictus enjoys strong investors support and has enough cash reserves to carry on the exploration activities involving seismic acquisitions and drilling of exploratory wells on the prospect.