重点
：Musuma-1 被确认为在 Mukuyu 凝析气发现区外钻探的第一口高影响力勘探井
；Musuma 勘探区显示出引人注目的地震直接碳氢化合物指标 (DHI) 响应和潜在的“平点”——含碳氢化合物带的关键指标
；Musuma-1 井的目标是 1.2 万亿立方英尺天然气 + 7300 万桶凝析油
；简单且低成本的垂直井，计划总深度约为 1,500 米，目标是 Dande 组的浅层储层
；正在准备在 2025 年下半年开钻
；石油勘探开发和生产协议 (PEDPA) 和石油

产品分成协议 (PPSA) 将合并，更新后的协议将快速执行；Invictus Energy Limited（“Invictus”或“公司”）很高兴提供有关在Invictus Energy董事会富有成果的国内考察后，Musuma-1井的选址正式确定。Musuma

-1已被确认为在Mukuyu凝析气发现区外钻探的首个高影响力勘探井，目标是Cabora Bassa盆地的全新储层类型。

穆苏马是CB23地震勘探（参见澳大利亚证券交易所2024年5月6日公告）发现的八个高潜力勘探区之一。如果穆苏马的钻探成功，除了已探明的穆库尤气田外，它还可能释放出巨大的新资源基础。

穆苏马勘探区的选定是基于地震数据中发现的强直接碳氢化合物指标（DHI），包括上倾增亮和在多条地震线和多个勘探年份中观察到的一致的“平点”（指示气水接触的水平反射体）。这些振幅异常显著增强了穆苏马存在碳氢化合物的可信度。

Musuma-1 是 Mukuyu 以外观察到的最强技术案例之一，对于了解 Invictus 主导区块东部的资源潜力至关重要。Invictus 目前正在采取必要的准备措施，以便在 2025 年下半年开钻该井，Exalo 正在对位于 Mukuyu-2 井场的 202 号钻机进行维护和升级。

值得注意的是，在 Mukuyu-2（Mukuyu 发现的评估井）钻探期间，该位置的 Dande 组显示出良好的储层质量和残余碳氢化合物，表明碳氢化合物已迁移至该较浅的层位（参见澳大利亚证券交易所 2023 年 10 月 10 日的公告）。

这表明存在一个能够向 Dande 组充注的活跃含油气系统。尽管 Mukuyu-2 的 Dande 层段未包含圈闭油藏（可能是由于局部圈闭破裂），但它证实了碳氢化合物已迁移至其他 Dande 油藏，并可能在其中聚集。

相比之下，穆苏马构造的地震特征表明其圈闭完整，包括“平点”和增亮（见图1），表明该构造内可能蕴藏碳氢化合物。Musuma

-1 将在 EPO 1848 许可区域进行钻探，旨在释放非洲最后一个未充分勘探的陆上盆地之一的更多天然气资源。穆苏马是 CB23 地震勘探确定的八个高潜力勘探区之一（参见澳大利亚证券交易所 2024 年 5 月 6 日的公告）。如果穆苏马的钻探成功，除了已探明的穆库尤气田外，它还将释放出一个庞大的新资源基础。

一旦发现金矿，Mukuyu 将拥有更多选择权，从而加快 Eureka 金矿试点生产项目（概念验证）的推进，并为 Cabora Bassa 盆地的全面油田开发奠定基础，这符合 Invictus 的早期天然气货币化战略（参见澳大利亚证券交易所 2024 年 4 月 23 日的公告）。公司已制定

健康、安全、环境 (HSE) 管理计划和最新的环境影响评估 (EIA)，涵盖 EPO 1848 区域。井场现场建设将适时启动，预计在 2025 年下半年钻井准备工作之前完成。

在收到主要服务提供商的提案后，Invictus 正在为 Musuma-1 井争取必要的钻井平台和服务合同。在与津巴布韦共和国签署 PPSA 协议后，公司还将获得未偿还的长周期项目和消耗品余额。

Musuma-1 钻探完成后，将对该井进行测井和评估。如果发现大量碳氢化合物，全面的油井测试将成为公司的下一个优先事项。一项油井测试计划（包括油藏层段的流量测试）旨在测量流量、油藏压力和流体特性，并将与 Mukuyu 钻井/测试活动协调进行，以实现成本和运营效率。

本公告已获董事会批准发布。

HIGHLIGHTS
• Musuma-1 confirmed as the first high-impact exploration well to be drilled outside the Mukuyu gas-condensate discovery area
• Musuma prospect demonstrates a compelling seismic Direct Hydrocarbon Indicator (DHI) response and potential “flat spot” - key indicators of hydrocarbon-bearing zones
• Musuma-1 well targeting 1.2 Tcf of gas + 73 million barrels condensate
• Simple and low-cost vertical well to a planned total depth of ~1,500 metres targeting the shallow reservoir in the Dande Formation
• Preparation underway to spud and drill the well in H2 2025
• Petroleum Exploration Development and Production Agreement (PEDPA) and Petroleum

Production Sharing Agreement (PPSA) to be unified, with the updated agreement fast tracked for execution Invictus Energy Limited ("Invictus" or "the Company") is pleased to provide an update on the Musuma-1 well location following a highly productive in-country visit by the Invictus Energy Board of Directors.

Musuma-1 has been confirmed as the first high-impact exploration well to be drilled outside the Mukuyu gas-condensate discovery area, targeting a new play type in the Cabora Bassa Basin.

Musuma is one of eight high potential prospects identified from the CB23 Seismic Survey (refer to ASX announcement 6 May 2024). Should drilling at Musuma be successful, it could unlock a substantial new resource base in addition to the already proven Mukuyu gas field.

The Musuma prospect was selected based on strong direct hydrocarbon indicators (DHIs) identified in seismic data, including updip brightening and a consistent “flat spot” – a horizontal reflector indicative of gas-water contact – observed across multiple seismic lines and survey vintages. These amplitude anomalies significantly enhance confidence in the presence of hydrocarbons at Musuma.

Musuma-1 presents one of the strongest technical cases observed outside of Mukuyu and will be crucial in understanding the resource potential in the eastern portion of Invictus’s dominant acreage position. Invictus is currently undertaking the necessary preparatory steps to spud the well in H2 2025, with Exalo completing maintenance and upgrades on Rig 202 which is stacked at the Mukuyu-2 wellsite.

Notably, during the drilling of Mukuyu-2 (an appraisal well on the Mukuyu discovery), the Dande Formation at that location exhibited good reservoir quality and residual hydrocarbons, indicating that hydrocarbons had migrated into that shallower horizon (refer to ASX announcement 10 October 2023).

This suggests an active petroleum system capable of charging the Dande Formation is present. Although Mukuyu-2’s Dande interval did not contain a trapped accumulation (likely due to local trap breach), it confirmed hydrocarbons have migrated through and can accumulate in Dande reservoirs elsewhere.

Musuma’s structure, by contrast, displays seismic characteristics indicative of an intact trap, including the “flat spot” and brightening (see Figure 1), suggesting hydrocarbons could be contained within the structure.

Musuma-1 will be drilled in the EPO 1848 license area aiming to unlock additional gas resources in one of Africa’s last underexplored onshore basins. Musuma is one of eight high potential prospects identified from the CB23 Seismic Survey (refer to ASX announcement 6 May 2024). Should drilling at Musuma be successful, it could unlock a substantial new resource base in addition to the already proven Mukuyu gas field.

In the event of a discovery, this will provide additional optionality to Mukuyu, enabling the fast-tracking of the pilot production project at Eureka Gold Mine (proof-of-concept) and laying the foundation for full field development in the Cabora Bassa Basin, in line with Invictus’ early gas monetisation strategy (refer to ASX announcement 23 April 2024).

Health, Safety, Environment (HSE) management plans and an updated Environmental Impact Assessment (EIA) are in place, covering the EPO 1848 area. The site construction for the well pad will commence in due course, timed for completion ahead of drilling preparations in H2 2025.

Invictus is securing the necessary drilling rig and service contracts for the Musuma-1 well following the receipt of proposals from major services providers. The Company will also obtain the balance of outstanding long lead items and consumables following the execution of the PPSA with the Republic of Zimbabwe.

Following the drilling of Musuma-1, the well will be logged and evaluated. In the case that hydrocarbons are encountered in significant quantities, comprehensive well testing will be the Company’s next priority. A well testing program (involving flow tests of the reservoir intervals) is designed to measure flow rates, reservoir pressure, and fluid characteristics and will be coordinated with a Mukuyu drilling/testing campaign to realise cost and operational efficiencies.

This announcement was approved for release by the Board.