- Mukuyu estimated to be second largest discovery made in Sub-Saharan Africa in 2023 y global energy research firm Wood Mackenzie
  - Two gas discoveries from Mukuyu-2 in Upper and Lower Angwa formations
  - Invictus progressing work program to quantify Contingent Resources

Invictus Energy Limited (Invictus), is pleased to provide an update on ndependent analysis conducted on its 80% owned and operated Cabora Bassa project in imbabwe.

Mukuyu among largest discoveries in Sub Saharan Africa

The Mukuyu field has been identified as the second largest discovery in Sub-Saharan Africa in n upstream review published by global energy research firm Wood Mackenzie last month.

Mukuyu’s placing as an estimated 230 million boe (1.3 TCF) resource follows two gas iscoveries from the Upper and Lower Angwa reservoirs declared by Invictus in December
2023.

The review also notes regional exploration yielded seven discoveries from a total of 17 wells rilled across the subcontinent in 2023, with Invictus accounting for two of the discoveries.

Immense exploration upside

There remains substantial upside through further drilling to convert prospective resources in he Mukuyu field into contingent resources and subsequently mature them to reserves.

Invictus declared two material discoveries after recovering a total of 15 downhole gas and as-condensate samples from both the Upper and Lower Angwa Formation targets in the ukuyu-2 / ST-1 well during its December drilling campaign.

The dual discoveries confirm the incredible potential of the Mukuyu gas field and define a ew petroleum province in the Cabora Bassa basin, where the Company holds a dominant creage position of 360,000ha in proximity to a high-demand energy market with established elivery infrastructure.

Comments from Managing Director, Mr Scott Macmillan

"aving the Mukuyu discovery independently recognised as one of the largest discoveries in 023 and acknowledged among several multinationals confirms our confidence in the quality nd scale of this new gas field in Sub-Saharan Africa.

“There remains significant upside for Invictus to build on the Mukuyu discovery and convert rospective resources in undrilled fault blocks in the Mukuyu field into contingent resources, aying the pathway to mature the reserves through further drilling.

“Invictus’ dominant 360,000ha position in the Cabora Bassa basin provides the Company with urther opportunties to deliver subsquent discoveries from its substantial portfolio of drill-ready rospects and leads following the basin opening discoveries delivered from the first two wells.”

About Invictus Energy Ltd

Invictus Energy Ltd is an independent upstream oil and gas company listed on the Australian Securities xchange (ASX: IVZ). The Company is headquartered in Perth, Australia and has offices in Harare, Zimbabwe.
Invictus has made a significant gas discovery in the Cabora Bassa Basin in northern Zimbabwe - one of the ast untested large frontier rift basins in onshore Africa – through a high impact exploration programme hich it continues to develop and mature.
Invictus Energy is committed to operating in a safe, ethical and responsible manner, respecting the nvironment, our staff, contractors and the communities in which we work.