Ann: Mukuyu-2 Wireline Logging Progress Update, page-6

HIGHLIGHTS • Preliminary wireline program completed
• Wireline log interpretation identifies multiple hydrocarbon bearing intervals in Upper and Lower Angwa reservoir sands
• Wiper trip being conducted to prepare the borehole for downhole fluid sampling from Upper and Lower Angwa targets
• Results anticipated in 2-3 days following completion of fluid sampling program Invictus Energy Limited (“Invictus” or “the Company” is pleased to provide an update of drilling the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Comments from Managing Director Scott Macmillan: “Evaluation of the preliminary wireline logs has identified multiple hydrocarbon bearing zones in the Upper and Lower Angwa coincident with intervals that displayed elevated gas shows during drilling. “Logging operations have taken slightly longer than anticipated due to a minor tool failure and required troubleshooting. An additional wiper trip was also undertaken to clear a slight restriction across a shale interval in the Lower Angwa which was preventing the wireline tools from reaching Total Depth (TD) to acquire data over the entire hole section, and to circulate a build up of trip gas out of the hole. The restriction was subsequently cleared, and primary logs have been acquired down to TD. “Once the current wiper trip to circulate out the trip gas and condition the borehole for the fluid sampling run has been completed in the next 24 hours we will commence downhole fluid sampling for the Upper and Lower Angwa zones. “The log analysis is subject to further calibration using core and fluid samples obtained from the well. “We anticipate completing the fluid sampling program in the next 2 – 3 days depending on logging conditions and number of fluid sampling stations.”