Invictus Energy Limited provide an update on the activities of its 80% owned and operated Cabora Bassa Project in Zimbabwe. Following approval from His Excellency President E.D. Mnangagwa, the PEPDA between Invictus's 80% owned subsidiary, Geo Associates and the Republic of Zimbabwe has been executed. The agreement was signed on behalf of the Government of the Republic of Zimbabwe by the Minister for Mines and Mining Development, Hon. Winston Chitando at a signing ceremony at State House in Harare on 26 March 2021. The PEDPA provides the framework for progression of the Cabora Bassa Project through the exploration, appraisal, development and production phases, the obligations and rights of each party, the minimum work program obligations to maintain the licence in good standing, and the security of tenure for the project duration. The PEDPA provides the licence holder the right to enter into a 25 year production licence following the exploration periods. The Company is currently in the 2nd exploration period.