Highlights

  • AMOG joint venture negotiations continue alongside discussions on a proposed revised strategic agreement.
  • Potential transaction structure would require regulatory clearances and shareholder approval processes.
  • All resolutions presented at the 2025 AGM received majority shareholder approval.

Invictus Energy Ltd (ASX:IVZ) has provided an update on the status of its joint venture with Al Mansour Holdings, conducted through the jointly established entity Al Mansour Oil & Gas (AMOG). The joint venture was set up to pursue acquisitions and investments in upstream producing and near-term development oil and gas assets across Africa, while also evaluating corporate merger and acquisition opportunities.

According to the update, Invictus and Al Mansour Holdings continue to work toward finalising the partnership and governance framework governing AMOG. The joint venture is reported to be in active negotiations on several potential transactions, though no definitive agreements have yet been confirmed.

Strategic Partnership and Ownership Structure

Alongside the AMOG framework discussions, the parties are negotiating a proposed agreement structure that could allow Al Mansour Holdings, together with certain other Qatari parties, a pathway to become a 50% shareholder in Invictus Energy. The company stated that the contemplated structure would involve ownership levels and arrangements requiring regulatory and governance approvals in both Australia and Qatar.

These approvals would include the preparation of an Independent Expert’s Report for Invictus shareholders and potential clearance from the Foreign Investment Review Board. Subject to execution of a new agreement, regulatory approval processes would be followed by an Extraordinary General Meeting of shareholders. Invictus noted that there is no certainty that the proposed agreement will be concluded.

Placement Settlement Timeline Adjusted

As negotiations continue, Invictus has deferred settlement of the placement previously announced in August and updated in September 2025. The settlement date has been extended to on or before 27 January 2026 to align with ongoing discussions related to the partnership with Al Mansour Holdings.

The company confirmed that all other terms and conditions of the placement remain unchanged. Resolutions related to the placement, which were tabled for shareholder consideration at the Annual General Meeting, remain valid.

2025 AGM Voting Outcomes

Invictus Energy Ltd held its Annual General Meeting on 27 November 2025, where shareholders voted on nine resolutions. All resolutions were carried following proxy and poll voting results. These included the adoption of the remuneration report, re-election of a director, approval to issue incentive securities, and approvals related to placement facilities, strategic shares, finders’ fee shares, employee incentive plans, termination benefits, and constitutional provisions concerning proportional takeover bids.

Share Price Snapshot

IVZ was trading 19.04% higher at AUD 0.125 per share as of 28 November 2025.