Invictus Energy Ltd - Agreement is being finalised by Ministry of Mines, page-66

IVZ today is only sitting at a $66M market cap with the following big news flow items coming up this week or next:

- PSA signature by government (this sets the legal and fiscal framework for the project and basically gives it the all clear to go ahead). Massive de-risking news, likely to be announced in the next week or two. I'd expect this should send the stock to 25c - 30c...

- Farm-out 50% of the project to a large oil company in exchange for free carried drilling of 2 wells, some seismic and back-payment of previous costs. They already have a non-binding farm-out agreement in place and I bet it is just conditional on the Production Sharing Agreement being finalised... so once the PSA is signed, I'd expect farm-out to occur shortly after. Again, this is a huge de-risking event and will send the share price flying or at least support the run after the PSA signature news. Potential of share price depending on positive terms 50 - 60 cents.

- Seismic activity is expected to start in April. This will help them improve on the previously shot seismic to better decide where to drill the wells. The drilling targets are already identified using the old seismic that Exxon performed but new age seismic will give even more clarity.

- Drilling of 2 wells late 2021. This is the jackpot, exploration stocks run hard in to drilling. Especially when it is an elephant scale target like this one that is onshore and would be super cheap to develop. IVZ already have agreements in place to sell some of the gas once it is developed - it is a starved gas market in this part of Africa and they will need the energy going forward.

- If the well is successful and hits oil/gas, we go to the moon. It will be one of the largest onshore discoveries in the continent in a country like this we will see $$.

- The Zimbabwe government have named this as a priority project. It will be the first oil and gas project in the country so they will not want to mess it up and put companies off investing in the country in future. They have also offered great tax terms (5 year tax holiday, 15% tax rates, etc.) to make it a very attractive development. It pays to be first at the table in Africa because companies that follow will be taking less risk so will not get as attractive terms.

See Recon graph at the potential of the share price increases INCOMING. Disallowed at your hands. Well done holding so early holders. Big few weeks coming.