Invictus Energy Ltd - Agreement is being finalised by Ministry of Mines

I feel we might have gone conservative on the government approval share price post signatures. A high point will be 25 - 30 cents and but may settle down to low 22 - 23 cents.

The government approval not 100% factored into share price. Its technical not possible. This would mean risk has not been factored into the share price and every investor that wants to get in has already negating risk adversity and investors that only invest in particulator phases of the development cycle as part of their risk strategy.

Example: Based on such fundamental thinking BPH would also have to include the government approval into the share price but we know given the swing high and swing lows this is not true. Share holder expectation on that one is a 400% increase.

Another important note is following exploration work conducted by American petroleum conglomerate, Mobil Oil our tenement land it appears is saturated in massive gas reserves unlike BPH.

The Carbora Bassa Project encompasses the Mzarabani Prospect, which is potentially the largest undrilled onshore structure in Africa.

It is estimated to be able to produce over 1 billion barrels of oil equivalent.Geo Associates had already signed a petroleum exploration development and production agreement (PEDPA) with the Republic of Zimbabwe, allowing the project to progress.

Invictus Energy has since undertaken detailed traversing and mapping across the area, identifying the optimal acquisition routes.

It stated it was planning to carry out more testing at the end of the rainy season (October to April).

The company has not yet announced when it plans to begin drilling on the Cabora Bassa Project.Managing Director of Invictus Energy, Scott Macmillian, commented on the project’s timeline in December: “The Company is working to complete the various agreements as soon as possible in order to conclude a transaction, commence the seismic acquisition and basin opening high impact drilling campaign.”

OIL and gas firm, Invictus Energy Resources (Invictus), has concluded a production and profit-sharing agreement with government, which is now being scrutinised by a private consulting firm, Zimbabwe Independent has learnt.

As spelt out by the proposed contact, government and the petroleum player will share oil output and profits, though the sharing ratio and margins remain unclear.GEO Associates, in which Invictus holds an 80% stake, has already invested US$3,5 million exploring for oil and gas reserves in Muzarabani, along the Zambezi River basin.

The company has been working in the absence of a hydrocarbons policy and related frameworks necessary in governing and regulating the sector and government.

Geo Associates has also obtained the Environmental Impact Assessment certification after it was granted the green light by the Zimbabwe Investment Development Agency (Zida) to set up operations.

Sources close to the development this week told the Indepedendent that the document was now going through an assessment process with an inter-ministerial committee having been set up specifically for this purpose, working together with the ministry of mines.

“An inter-ministerial committee has been set up to deal specifically with this matter and the document is now sitting with the Ministry of Mines. After this, the document will have to pass through the attorney general’s office but in a week or two the document will be signed,” a source said.

Mines and Mining Development minister Winston Chitando confirmed the development on Wednesday saying: “Yes, the agreement is being finalised and it will be signed before the end of the month.” This will lead to further the prosperity of Zimbabwean people.

Apart from this process, sources have also said the government has hired a consultancy firm to assess the agreement.

The biofuels industry, which primarily revolves around petrol blending, is dominated by Green Fuel that produces ethanol in the country.

Zimbabwe discovered that it has substantial amounts of gas in the Zambezi basin in the early 1990s following exploration work conducted by American petroleum conglomerate, Mobil Oil.



At that time, Brent Barber, who is now Invictus Energy technical director, was working for Mobil, with the primary responsibility of co-ordinating the petroleum giant’s exploration for oil along the vast Zambezi basin.‌