IVZRESPONSE TO ASX PRICE QUERY LETTERWe refer to your letter...

IVZ
RESPONSE TO ASX PRICE QUERY LETTER
We refer to your letter dated 15 March 2021 to Invictus Energy Limited (Invictus or
the Company). The Company responds to each of the queries in the letter as follows:
1. Is IVZ aware of any information concerning it that has not been announced to the
market which, if known by some in the market, could explain the recent trading in its
securities?
No, however the Company in its recent December 2020 Quarterly Activities Report
lodged with the ASX on 29 January 2021, confirmed that the Petroleum Exploration
Development and Production Agreement (PEDPA) review had been completed by
the Inter-Ministerial Committee of the Government of Zimbabwe and has been
approved. The PEDPA provides the framework for progression of the Cabora Bassa
Project through the exploration, appraisal, development and production phases
and the obligations and rights of each party over the project lifecycle. The
Company is awaiting execution of the agreement.
On Friday 12 March 2021, the Company became aware of an article published in
the Zimbabwe Independent newspaper that stated that the Government of
Zimbabwe and Invictus had concluded a production and profit sharing agreement
with Invictus which is now being scrutinized by a private consulting firm. Further
the article quotes The Mines & Mining Development Minister of Zimbabwe, Mr
Winston Chitando, “Yes, the agreement is being finalised and it will be signed
before the end of the month