Ann: Multiple TCF Prospectivity Identified - Eastern Cabora Bassa, page-7

KEY TAKEAWAYS

1. Significant Resource Potential: Invictus Energy has identified eight key prospects within the eastern portion of the Cabora Bassa Basin in Zimbabwe, with an estimated prospective resource of 2.9 trillion cubic feet (Tcf) of gas and 184 million barrels (MMbbl) of condensate on a gross mean unrisked basis. This highlights the significant hydrocarbon potential in this region.
2. De-risking and Exploration Focus: The discovery of hydrocarbons in the Mukuyu gas field and the positive results from the CB23 seismic survey have de-risked the prospectivity of the eastern Cabora Bassa Basin. This supports the company’s decision to focus its next exploration drilling campaign on the Musuma prospect, which alone is estimated to contain over 1 Tcf of gas.
3. Strategic Drilling Targets: The vertically stacked prospects allow individual exploration wells to test multiple targets, increasing the efficiency and potential success of the drilling program. This approach is expected to unlock additional significant value in Invictus’ asset portfolio.
4. Upcoming Exploration Campaign: Invictus plans to conduct an exploration well at the Musuma prospect in 2025 to test the Dande play. The results from this drilling will be crucial in proving up further material plays within the company’s acreage.
5. Overall Exploration Strategy: The company’s strategy aligns with its early gas monetisation plan, aiming to rapidly advance the exploration and development of its assets in the Cabora Bassa Basin, positioning Invictus as a key player in the region’s energy sector.