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*Invictus Finds 13 Potential Oil And Gas-Bearing Zones In Muzarabani*

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Invictus Energy says it has identified thirteen (13) potential oil and gas-bearing zones in Muzarabani, a result the company said is “virtually unprecedented for the first well in a frontier basin.”

The company’s Managing Director Scott Macmillan said they are still interpreting all data with results to be integrated into the seismic data and basin models to guide future well locations and exploration prospect selection. He said:

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> The Mukuyu-1 and ST1 drill campaign has been a great success, identifying 13 potential hydrocarbon bearing zones across the Pebbly Arkose and Upper Angwa formations.

> Significantly, a combined 225 metres of gross potential hydrocarbon-bearing zones have been identified in the primary target Upper Angwa, which still contains deeper untested potential.

> This is an outstanding result and virtually unprecedented for the first well in a frontier basin, establishing a new petroleum province and substantially de-risking the Company’s wider acreage
in the Cabora Bassa Basin.

> We are still interpreting all the data, with results to be integrated into the seismic data and basin models to guide future well locations and exploration prospect selection.

In a statement, Invictus said following the completion of operations of the Mukuyu-1 ST1 well, a total of 13 potential
hydrocarbon bearing zones were interpreted in the Pebbly Arkose and Upper Angwa
formations.

It said 11 potential hydrocarbon-bearing zones totalling a combined 225 metres were identified in the Upper Angwa formation. Invictus said:

> All potential hydrocarbon-bearing zones have been isolated and plugged and the Mukuyu-1 and ST1 wells have been left in a safe condition.

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