Invictus Energy (IVZ) Q4 2026 TU earnings summary

Executive summary

• Executed a landmark Petroleum Production Sharing Agreement (PPSA) with Zimbabwe, providing a stable legal and fiscal framework for the Cabora Bassa Project across its lifecycle.

• Advanced preparations for the high-impact Musuma-1 exploration well, including wellsite surveying, civil works, and rig mobilisation.

• Completed upgrades to the Zambezi Valley supply base, establishing a central hub for future field activities.

• Raised A$10 million through a placement to fund Musuma-1 drilling and associated activities.

• Mutapa Investment Fund participation formalised, aligning sovereign and investor interests.

Financial highlights

• Raised A$10 million via equity placement at A$0.060 per share, with options attached.

• Exploration and evaluation spend for the quarter was AUD $0.522 million.

• Payments to related parties totaled AUD $279,753 for the quarter.

• Cash and cash equivalents at quarter end were A$10.88 million, up from A$3.07 million in the previous quarter.

• Net cash used in operating activities for the quarter was A$972,000.

Outlook and guidance

• Musuma-1 drilling remains on track for H2 2026, targeting a new play with significant prospective resources.

• PPSA provides a clear pathway for Mukuyu appraisal and early gas monetisation.

• Ongoing discussions with strategic and industry partners for new ventures and business development.