• Environmental Impact Assessment (EIA) renewal approved by Zimbabwe Environmental Management Agency
• EIA clears the pathway for Musuma-1 drilling campaign and Mukuyu Gas Field appraisal
• Petroleum Production Sharing Agreement (PPSA) final 'all party review' completed, execution scheduled this month

Invictus Energy Ltd, an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa, has announced that the Zimbabwe Environmental Management Agency (EMA) has renewed the Environmental Impact Assessment (EIA) for its Special Grant 4571 and Exclusive Prospecting Orders 1848 and 1849 until March 2027. The renewal of the EIA clears the pathway for the company's upcoming high-impact Musuma-1 drilling campaign and Mukuyu Gas Field appraisal. The initial baseline EIA assessment conducted in 2019 was one of the largest assessments carried out in Zimbabwe, including field surveys and baseline measurements of various environmental and socioeconomic factors. Invictus has also completed the final 'all party review' of the Petroleum Production Sharing Agreement (PPSA), with execution of the agreement scheduled for this month. The PPSA will establish a stable, transparent, and internationally competitive legal and fiscal framework for the emerging oil and gas industry in Zimbabwe, and will form the basis of the 'model contract' for future participants and activity in the industry. With the PPSA expected to be executed in April, Invictus intends to progress its high-impact forward work program in the Cabora Bassa Basin, including the appraisal of the Mukuyu Gas Field and the drilling of the Musuma-1 exploration well.

With the Environmental Impact Assessment renewal and the Petroleum Production Sharing Agreement execution, Invictus Energy is well positioned to move forward rapidly with its high-impact exploration and appraisal program in the Cabora Bassa Basin, including the Mukuyu Gas Field and the Musuma-1 well.