Invictus Energy has achieved significant milestones in its Cabora Bassa Project, a major oil and gas exploration venture in Zimbabwe. The project has been officially granted National Project Status (NPS) by the Zimbabwe Finance Minister, Hon. Prof Mthuli Ncube, recognizing its strategic importance to the country’s economic growth and energy security. The NPS designation provides fiscal and non-fiscal benefits, including duty exemptions and expedited permitting.
The company’s principal activities during the financial year consisted of the exploration and appraisal of the Cabora Bassa Project. Despite a net loss from continuing operations of $4,2 million for the half-year period to 31 December 2025, Invictus Energy has made significant progress in advancing the project.
The Petroleum Production Sharing Agreement (PPSA) process has been finalized, with formal execution expected in Q1 2026.
Preparation is underway for the Musuma-1 drilling campaign and appraisal activities at the Mukuyu Gas Field.
Exclusive Prospecting Orders 1848 and 1849 Licences have been renewed for a further three-year term.
Invictus Energy’s financial position remains solid, with cash and cash equivalents of $4,5 million as at 31 December 2025. The company is committed to advancing the Cabora Bassa Project, with a focus on responsible exploration and development of Zimbabwe’s energy resources.
The company’s leadership team has also changed, with Ms. Victoria McLellan appointed as Joint Company Secretary on 7 January 2026. Additionally, the company has terminated its strategic partnership with Al Mansour Holdings (AMH) and Al Mansour Oil & Gas (AMOG) due to disagreements on revised transaction terms.
Invictus Energy remains committed to its vision of becoming a leading energy company in Zimbabwe, with a strong focus on safety, sustainability, and community engagement.
