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Invictus Energy begins trading on OTCQB® Market, Cabora Bassa Project progressing

Highlights

  • Invictus Energy Limited (ASX:IVZ) has qualified to onboard to the OTCQB® Market.
  • The Company started trading today on the OTCQB under the symbol ‘IVCTF’.
  • Current and prospective U.S. investors now have improved market visibility, increased trading liquidity and the most up-to-date information about Invictus.
  • Invictus is moving towards a basin opening drilling campaign at the Cabora Bassa Project.

Shares of oil and gas explorer Invictus Energy Limited (ASX:IVZ) traded up by over 3 per cent today on the ASX after the Company notified that it has qualified to onboard to the OTCQB® Market maintained by OTC Markets in New York. OTC Markets Group Inc. is an operator of financial markets for 11,000 U.S. and global securities.

 Notably, Invictus has begun trading today on the OTCQB® under the symbol ‘IVCTF’.

IVZ traded in the green zone today

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Significant upgrade to OTCQB® Market

Invictus previously traded on the facilities of the Pink® market under the same symbol. Notably, Invictus met all applicable standards for OTCQB® tier of the OTC Markets. By upgrading to the OTCQB® from the Pink® market, current and prospective U.S. investors have-

  • Improved market visibility
  • Increased trading liquidity
  • Most up-to-date information

IVCTF represents the Company’s shares listed on the ASX. Hence, trading volume in IVCTF on the OTCQB will be shown as volume traded in IVZ shares on the ASX.

Cabora Bassa Project developments

Invictus is developing the Cabora Bassa Project in Zimbabwe, that can have national significance for Zimbabwe and its people. It is prepping to drill the first conventional oil and gas exploration well in the country.

2021 was a transformative year for Invictus. It achieved several significant milestones to advance the Cabora Bassa Project. Some of these are-

  • Signing the Petroleum Exploration Development and Production Agreement (PEDPA) with the Government of Zimbabwe.
  • The renewal of the SG 4571 licence for a further 3 years to June 2024.
  • Completing the first seismic acquisition campaign in the country for 30 years through Polaris.
  • Appointing Drilling Contract Manager in Aztech Well Services.
  • Commencing the second phase of the Company’s Corporate Social Responsibility program.

Way forward

The milestones achieved across 2021 have placed Invictus firmly on the path to drill the world-class Muzarabani prospect in 1H 2022.

Invictus’ technical work will progress over the next few months. This will enable the Company to quantify additional potential of our licence area. It might also add materially to its already world-class prospective resource base.

Invictus is now moving towards a basin opening drilling campaign, which will be incredibly important. The first exploration well is likely to be drilled in 1H 2022. Details will be provided soon as Invictus nears the finalisation of vital elements of the program.

All in all, Invictus seems to be on the right path to continue to focus on its core values of delivering growth, maintaining capital discipline, and fostering relationships with its stakeholders and host communities.

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