INVICTUS ENERGY LTD — Capital/Financing Update 2013

Nov 3, 2013

ASX Announcement 4 November 2013

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Sunbird Receives Independent Certification of 644 Bcf 2C Contingent Resource for Mopane Coal Bed Methane Project in South Africa

• Independent certification of Mopane Coal Bed Methane Project delivers 2C Contingent Resource of 644 Bcf and 3C Contingent Resource of 1,018Bcf

• Results from current drilling program and Contingent Resource certification supports Mopane’s potential for large scale CBM development

• Drilling continues on site with the aim of expanding resource base

• Initial pilot production planned for 2014

Southern African gas explorer and developer, Sunbird Energy Ltd (ASX: SNY ) is pleased to announce the completion of an Independent Resource Assessment of the Mopane Coal Bed Methane (CBM) Project (SNY 74%) in South Africa.

Mopane CBM Project Resources Estimates:

Contingent Resources (Gross 100%)	Recoverable Gas Volume (Bcf)	Recoverable Gas (PJ)
1C Contingent Resources 2C Contingent Resources	351 644	370 679
3C Contingent Resources	1,018	1,074

The independent resource assessment was undertaken by MHA Petroleum Consultants LLC, Denver, Colorado. In estimating the contingent resources, MHA reviewed all available drilling and coal data associated with the initial drilling campaign in the east of the Mopane licence. The initial assessment area covers approximately 124 km[2] (or less than 10%) of the total 1,577 km[2] licence area. Exploration drilling in Mopane continues in the central area of the licence with additional results expected before the end of 2013.

Sunbird Managing Director, Will Barker, commented on the results of the resource assessment: “The booking of our maiden contingent resource for the Mopane Project is an important milestone in progressing the development of our CBM portfolio towards the supply of gas and power to the high value South African energy market.

“With a 2C resource of 644 Bcf from our initial drilling in the eastern section of the licence., and its location on the national power transmission grid, Mopane has the potential for development as a large scale power project. Independent verification of the recoverable gas volumes provides Sunbird with the confidence to move forward with our partners into pilot production testing in 2014.”

Sunbird Energy Ltd – ACN 150 956 773 Level 1, 50 Ord Street, West Perth, WA 6005 www.sunbirdenergy.com.au T: +61 (0) 8 9463 3260 F: +61 (0) 8 9462 6630

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The Mopane CBM Project covers a licence area of 1,577km[2] and is located in the Limpopo Province of South Africa, 420km northeast of Johannesburg. Lying on the western limit of the Tshipise Coalfield, the project is traversed by major electricity transmission lines that form part of the Southern African Power Pool and is also close to major local mining and mineral processing facilities.

Sunbird holds a 74% interest in the Mopane CBM Project and the Company’s strategic partner in South Africa, Umbono Capital Partners, an established Black Economic Empowerment (BEE) group, holds the remaining 26% interest. Umbono is experienced in the development of natural resources in South Africa.

Corehole drilling is continuing in the Mopane project area to expand the resource base and assist with the planning of the initial pilot production program in 2014. The aim of the pilot production is to determine gas flow rates and prove the commercial viability of the project. This will enable Sunbird to book gas reserves and accelerate the opportunity for development of power generation at Mopane for supply into the national power network.

The Mopane project area is considered favourable for the occurrence of CBM due to the presence of a thick and significant coal formation at depths suitable for CBM development and preservation. The project area is fault-bounded in the north and south by major eastnortheast to west-southwest trending faults. The Karoo Supergroup has been preserved in graben structures controlled by these faults. The coal zone comprises composite coal seams over a vertical thickness of approximately 120m There is also an extensive development of carbonaceous shales in the intervals in these sequences.

Competent Person Statement

The reserves and resource estimates used in this announcement were compiled by Tim Hower of MHA Petroleum Consultants LLC and are consistent with the definitions of proved, probable, and possible hydrocarbon reserves and resources that appear in the Australian Stock Exchange (ASX) Listing Rules. Mr Hower is qualified in accordance with the requirements of ASX listing rule 5.11 and has consented to the use of the reserves and resource figures in the form and context in which they appear in this announcement.

* ENDS *

For further information please visit www.sunbirdenergy.com.au or contact:

Will Barker Managing Director, Sunbird Energy Ltd Colin Hay Media Contact, Professional Public Relations

Tel: +61 8 9463 3260 Tel: +61 8 9388 0944

Sunbird Energy Ltd – ACN 150 956 773 Level 1, 50 Ord Street, West Perth, WA 6005 www.sunbirdenergy.com.au T: +61 (0) 8 9463 3260 F: +61 (0) 8 9462 6630

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Mopane Project Area

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Sunbird Energy’s licences in the Mopane Project area

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Sunbird Energy’s Mopane Project Resource Assessment Area

Sunbird Energy Ltd – ACN 150 956 773 Level 1, 50 Ord Street, West Perth, WA 6005 www.sunbirdenergy.com.au T: +61 (0) 8 9463 3260 F: +61 (0) 8 9462 6630

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About Sunbird Energy Ltd

Sunbird Energy Ltd is an ASX-listed (ASX :SNY ) gas explorer and developer focused on southern Africa where limited domestic gas supply and growing energy needs have created significant opportunity for the development of large scale energy projects.

Sunbird has received government approval for its proposal to acquire a 76% stake in the Ibhubesi Gas Project offshore of the west coast of South Africa. The transaction gives Sunbird the right to operate and develop the Ibhubesi Gas Project, South Africa’s largest undeveloped gas field. The Ibhubesi Gas Project has multiple development opportunities including gas-fired power projects to supply the high value South African energy market. Sunbird’s joint venture partner in the project is PetroSA (24%), the national oil company of South Africa.

Sunbird also has a portfolio of five Coal Bed Methane (CBM) projects covering an extensive area (10,070 km[2] ) of prospective coal basins across in South Africa and Botswana. Sunbird is conducting a phased exploration program that will define the resource base and demonstrate the commercial potential of its portfolio of CBM assets, which contain a Best Estimate Gas-in-Place of 5.3 Tcf (trillion cubic feet).

Sunbird Energy Ltd – ACN 150 956 773 www.sunbirdenergy.com.au

Level 1, 50 Ord Street, West Perth, WA 6005 T: +61 (0) 8 9463 3260 F: +61 (0) 8 9462 6630