• Historic Share Price Surge: Stock soared from AUD 0.050 to AUD 0.13 marking the biggest rally since December 2023
• Transformational Partnership: Al Mansour’s 19.9% stake and up to US$500 million in future funding bolster Invictus’s Cabora Bassa project
• Strategic Growth: The deal, backed by Qatar’s Sheikh Mansour, enhances Invictus’s exploration capabilities and positions it for continent-wide upstream opportunities

Harare- Invictus Energy, an Australian-listed exploration company with a market capitalisation of approximately US$55 million, experienced a dramatic surge in its share price, rising from AUD 0.050 on August 26 to AUD 0.13 on August 27, 2025.

This marked the most significant share price movement since December 2023, when the stock reached AUD 0.16 with 24 million shares traded.

The spike followed the announcement of a transformative partnership with Al Mansour Holdings, backed by Sheikh Mansour bin Jabor bin Jassim Al Thani, a member of the Qatar royal family.

Under the agreement, Al Mansour will acquire a 19.9% stake in Invictus for US$24.5 million, a premium over the current share price, and commit up to US$500 million in future funding, contingent on Invictus proving the commercial viability of at least one of its gas discoveries. A representative from Al Mansour will also join the Invictus board, strengthening the strategic alliance.

The partnership significantly bolsters Invictus’s flagship Cabora Bassa project in Zimbabwe, where the company holds an 80% operating interest, with the remaining 20% owned by One Gas Resources, led by Zimbabwean geologist Paul Chimbodza.

To unlock the full US$500 million funding from Al Mansour, Invictus must conduct further drilling, flow testing, and seismic surveys to confirm the commercial potential of its gas discoveries.

“We’ve got to do that to unlock the rest of that finance, so it’s firmly on the agenda,” said Invictus Managing Director Scott Macmillan.

He noted that the secured funding frees the company from the pressures of capital markets, enabling larger and more efficient exploration campaigns.

The deal, which took a year to finalize, reflects the trust built between Invictus and Al Mansour, with Macmillan describing it as a “transformational milestone” that enhances the growth trajectory of the Cabora Bassa project and opens new opportunities across Africa’s upstream oil and gas sector.

In addition to the partnership, Invictus and Al Mansour have established a joint venture, Al Mansour Oil & Gas (AMOG), to acquire and develop producing and near-term development oil and gas assets across Africa.

Invictus will identify, assess, and manage these assets, while Al Mansour will finance all activities, from acquisitions to operations, with backing from Qatar-based investors. Sheikh Mansour will chair AMOG, with Macmillan as deputy and Ryan Singh appointed as CEO.

Sheikh Mansour emphasised that AMOG aims to unlock Africa’s oil and gas potential in a way that benefits host governments, communities, and investors.

This strategic venture positions Invictus to expand its footprint beyond Zimbabwe, leveraging Al Mansour’s financial support to pursue high-value opportunities across the continent.

The Cabora Bassa project, central to Invictus’s operations, gained prominence in December 2023 when the company declared a gas find at its Muzarabani prospect, marking a historic step toward Zimbabwe’s first gas production.

However, this discovery is only the beginning of a lengthy process. Invictus must now drill additional wells to assess the volume, quality, and extractability of the gas before moving to the development phase, which involves designing and building infrastructure to bring the gas to market.

This process could take years, as illustrated by Mozambique’s experience, where exploration began in the 1960s, gas was discovered in 2010, and offshore shipments only recently commenced. Investors in Invictus include the Mangwana Opportunities Fund, representing 35 Zimbabwean institutional investors, such as the National Social Security Authority (NSSA).

Parallel to its exploration efforts, Invictus is negotiating a Petroleum Production Sharing Agreement (PPSA) with the Zimbabwean government to outline how future production and profits will be shared.

Mines Minister Winston Chitando confirmed on August 26, 2025, that a draft of the agreement is ready, though negotiations have been prolonged due to Zimbabwe’s lack of experience with such deals.

Macmillan noted that consensus has been reached on most points of the PPSA.

Additionally, the government holds a 10% back-in-right, allowing it to acquire a stake in the project within six months of a final investment decision for commercial development.

This agreement, combined with the Al Mansour partnership, positions Invictus to advance its exploration and development goals, potentially transforming Zimbabwe’s energy landscape while expanding its influence in Africa’s oil and gas sector.

Equity Axis News