IVZ Share Price, page-298

RECONAFRICA: "They drilled two stratigraphic wells which "confirmed a working petroleum system""

IVZ is in the same petroleum system as ReconAfrica (Karoo Basin - Permian) - which has been proven resource rich.

Bill Cathey is the geophysicist to some majors. When Recon brought the magnetic survey data from Namibia's Kavango Basin to Cathey, Cathey said the data showed a 30,000-foot sedimentary basin. He also said that a basin this deep, everywhere else in the world, produces commercial hydrocarbons. Management of Recon dropped everything, so the story goes, got on a plane, and finalized the deal for an exploration permit for the petroleum and natural gas rights to the giant Kavango Basin.

Source: https://www.bloom berg.com/press-releases/2020-02-04/oil-hotspots-to-watch-in-2020

The Cabora Bassa Basin (IVZ) is just one of the 26 prospective basins in sub-Saharan Africa. These can be sub-divided into the older Late Carboniferous - Triassic (Karoo) basins and younger East African Jurassic and Tertiary Rift basins that are responsible for many of the large discoveries in Kenya and Uganda over the last decade..
The Cabora Bassa Basin (IVZ), however, is different in that it is deeper and contains an unusually thick post-Permian cover including a thick well-developed Triassic stratigraphy including rich oil/gas source rocks that have been samped from the basin edge outcrops. It is therefore, more analogous to the Ogaden Basin in Ethiopia and Morondava Basin in Madagascar, which contain the most significant conventional hydrocarbon discoveries in any of the Karoo basins sourced by Triassic aged source rocks. These include two large gas-condensate fields in Ethiopia totalling 5-7TCF and two large oil discoveries in Madagascar with serveral billion barrels of proven oil in place. All these discoveries are believed to be sourced from Lower Triassic rocks similar to those interpreted and modelled in the undrilled Cabora Bassa Basin (IVZ) and which are already proven in the basin edge outcrops.

Source: http://envoi.co.uk/wp-content/uploads/2019/10/P255Invictus(Zimbabwe-SG4571)EnvoIProjectIntroduction.pdf