Invictus Energy (IVZ) H2 2025 earnings summary

Executive summary

• Achieved transformational milestones, including a strategic partnership with Al Mansour Holdings (AMH) and the launch of Al Mansour Oil & Gas (AMOG), positioning the company for growth across Africa.

• Advanced the Cabora Bassa Project in Zimbabwe, securing National Project Status and listing on the Victoria Falls Stock Exchange.

• Strengthened local partnerships and institutional support, notably with Mangwana Capital and the Mutapa Investment Fund.

• Enhanced corporate and financial position through a US$12 million placement and a subsequent US$24.5 million investment from AMH, with conditional future funding up to US$500 million.

Financial highlights

• Net loss after tax for FY25 was $4,966,815, an improvement from the $5,318,445 loss in FY24.

• Basic loss per share was $0.30, compared to $0.38 in the prior year.

• Cash and cash equivalents at year-end were $8,677,024, up from $3,256,044 in FY24.

• Exploration and evaluation expenditure increased to $127,942,928 from $122,097,259 year-over-year.

• Raised $18,857,717 through a capital raise in Zimbabwe, issuing 185,564,536 shares and 46,391,134 options.

Outlook and guidance

• Next 24 months to focus on well testing, appraisal drilling at Mukuyu, and pilot production planning at Eureka Gold Mine.

• Musuma-1 well to test high-impact Eastern Margin gas prospects; Southern Basin Margin oil targets to be explored.

• AMOG joint venture to pursue upstream oil and gas assets and M&A opportunities across Africa.

• Ongoing efforts to secure sales agreements, meet licensing requirements, and obtain financing for production.