Invictus Energy (IVZ) Q3 2025 TU earnings summary

Executive summary

• SG 4571 Licence in the Cabora Bassa Basin extended for three years, enabling further exploration and appraisal through 2027.

• ESIA approved for pilot gas production, including the Eureka Gold Mine Gas-to-Power Project.

• Musuma-1 selected as the first high-impact exploration well outside the Mukuyu discovery, targeting significant new resources.

• Farm out process and strategic partner discussions advancing to support project development.

• Board completed a site visit, progressing unification of key petroleum agreements.

Financial highlights

• Exploration and evaluation spend for the quarter was AUD $1.34 million.

• Payments to related parties totaled AUD $170,965 for the quarter.

• Net cash used in operating activities was AUD $1.12 million for the quarter.

• Net cash used in investing activities was AUD $1.34 million for the quarter.

• Cash and cash equivalents at quarter end were AUD $10.84 million.

Outlook and guidance

• Preparation underway to drill Musuma-1 in H2 2025, with appraisal to follow if hydrocarbons are found.

• Pilot production planning ongoing, including feasibility studies and partner evaluation for gas liquefaction and logistics.

• Discussions with additional offtake partners may expand the pilot project phase.