ZIMBABWE: Cabora Bassa Final Processed Seismic Data Received

Data processing of the 2021 Cabora Bassa 2D Seismic Survey (CB21 survey) and concurrent reprocessing of a legacy Mobil dataset has
largely been completed by onshore high resolution data specialists Earth Signal Processing in Calgary, Canada. All key products have
been received by Invictus and seismic interpretation is progressing well.

The acquisition and data processing of the CB21 survey, along with the reprocessing of 1990 Mobil survey data has achieved the
objectives of providing a high quality, comprehensive 2D data set which is contractor-consistent and process-consistent.

The parameters employed for the acquisition of the CB21 survey, along with modern data processing technology have significantly
elevated the data quality to a high standard.

As the interpretation is progressing, multiple anomalies have been noted in the basin’s seismic data. These can often be indicators for the presence of hydrocarbons.

Potential hydrocarbon indicator anomalies in Muzarabani prospect and along basin margin fault

Potential flat spot anomaly in new lead

These anomalies will be investigated with additional data processing products produced by Earth Signal Processing. Their geophysical signature, as well as trapping geometry and position (structurally and stratigraphically), will then be evaluated. This will allow the anomalies to be assessed and ranked to ascertain the likelihood of viable hydrocarbons within a definable trap.

Invictus Managing Director Scott Macmillan commented:
“The maiden drilling program to test the world-class Muzarabani prospect is coming together well. We are pleased to have secured Exalo’s rig 202 as well as well services with Baker Hughes and long-lead items. The final seismic data has provided evidence of multiple trapping geometries and a target rich environment for the upcoming drilling program. The drilling campaign is scheduled to commence in June 2022 and we are working towards a two-well program. The Company is maturing additional potential within our acreage and continuing to build on our significant
prospective resource inventory.”

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