Invictus requests trading halt ahead of capital ra...

Invictus requests trading halt ahead of capital raising announcement

By Nyashadzashe Ndoro - Chief Reporter

Invictus Energy Limited (ASX: IVZ), an independent oil and gas exploration company, has requested a trading halt on its securities pending an announcement related to a capital raising and strategic alliance.

The Australian Securities Exchange (ASX) confirmed the suspension, noting that trading in Invictus shares will remain halted until either the start of normal trading on Thursday, 28 August 2025, or the release of the company’s announcement, whichever occurs first.

In its request, Invictus said the halt would help it manage disclosure obligations and maintain an orderly market as it prepares details of the capital raising initiative.

"The Company requests that the trading halt remain in place until the earlier of the commencement of trading on 28 August 2025 or the release of an announcement by the Company regarding the capital raising and strategic alliance," the company stated.

"The Company is seeking the trading halt to assist in managing its disclosure obligations and to maintain an orderly market in relation to the capital raising.

"The Company confirms that it is not aware of any reason why the trading halt should not be granted or any other information necessary to inform the market about the trading halt."

Headquartered in Perth, with offices in Harare, Invictus Energy is advancing exploration in Zimbabwe’s Cabora Bassa Basin, where it has made a significant gas discovery at the Mukuyu field. The company describes the basin as one of the last untested frontier rift basins in onshore Africa.

Further details on the capital raising and potential strategic alliance are expected once the company finalises its plans.

Meanwhile, Invictus Energy, the company exploring for oil and gas in the Muzarabani Basin, on Monday signed a private agreement with Almanzo Holdings during a visit by a Qatari delegation to Zimbabwe. The signing ceremony, held at State House and presided over by President Emmerson Mnangagwa, also saw the delegation enter Memoranda of Understanding with the Ministry of Industry and Commerce as well as the Agricultural Development Authority (ARDA). The partnership is expected to bolster Zimbabwe’s energy sector by creating new opportunities for investment and development in oil and gas exploration.

Invictus Managing Director and CEO Scott Macmillan said the agreement was the culmination of year-long engagements with Almanzo Holdings and its Qatari partners, describing it as a significant step toward cementing future cooperation.

"As Invictus, we have been building our relationship with Almanzo Holdings and the Sheikh in Qatar over the last year, and we're very pleased to be taking a very big step to cement our partnership for the future," McMillan said.

A representative of Almanzo Holdings echoed this sentiment, saying the deal marked the beginning of a strong and enduring relationship with Zimbabwe.

In June, Invictus announced the consolidation of its Petroleum Production Sharing Agreement (PPSA) with the Petroleum Exploration Development and Production Agreement (PEDPA) for its 80%-owned Cabora Bassa Project in Zimbabwe.

The move, achieved in collaboration with government ministries, aimed to create a robust and transparent framework aligned with international standards. The project is also set to receive National Project Status (NPS) from the Ministry of Finance, unlocking fiscal and non-fiscal incentives such as duty exemptions, expedited permits, and improved access to infrastructure.

Finance Minister Mthuli Ncube described Cabora Bassa as a nationally significant development expected to boost investment and employment, while Macmillan welcomed the government’s backing as a key milestone. Invictus confirmed it is progressing procurement and contracting for long-lead items ahead of drilling the Musuma-1 exploration well in the second half of 2025.