AUSTRALIAN energy firm, Invictus Energy Limited, has appointed Victoria McLellan as its chief financial officer (CFO), effective on Monday this week.
McLellan’s appointment comes following the Australian Stock Exchange (ASX) listed firm listing on the Victoria Falls Stock Exchange on August 2.
The listing was part of the company’s US$10 million institutional placement launched on July 29 last month, managed by the Zimbabwe-based investment boutique and private equity firm, Mangwana Capital (Pvt) Limited (Mangwana).
Mangwana, through its Mangwana Nominees (investment advisory) and Mangwana Opportunities (investment vehicle) subsidiaries owns a 2,5% stake in Invictus.
“Invictus Energy Limited is pleased to announce the appointment of Victoria (Vicky) McLellan to the position of chief financial officer, effective August 19, 2024,” Invictus said in a statement.
Invictus said McLellan is an experienced oil and gas professional, having held a range of commercial and financial roles in oil and gas companies and top-tier accounting firms over the past 20 years.
According to Invictus, McLellan spent five years at FAR Limited, initially in joint venture and finance roles, then was promoted to CFO.
FAR Limited is also an Australian energy firm focused on oil and gas exploration in Africa.
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At FAR, McLellan was responsible for managing the joint venture and financial aspects of exploration assets in west Africa.
“Prior to that, she held a number of roles in Europe and Australia during her nine-year tenure at Chevron, where she was responsible for all aspects of financial management, most notably cashflow management for the Gorgon Project,” Invictus said.
“Vicky commenced her career in audit services at PWC, before moving into corporate reporting at KCA Deutag. Vicky has in-depth understanding of ASX rules and regulations, gained at FAR and in her most recent CFO roles with Metgasco and CAMS Advisory.”
The appointment comes at a time when Invictus is looking to raise finances following the discovery of oil and potential gas at its Cabora Bassa Project, in the Muzarabani district, located in the northeastern part of Zimbabwe.
“I am delighted to be joining Invictus as CFO at such an exciting stage for the company and I look forward to working closely with the team as we move the Cabora Bassa Project towards development,” McLellan said.
Invictus managing director Scott Macmillan said the firm was thrilled to have the CFO on board.
“Vicky brings a wealth of financial and commercial experience in the oil and gas sector, which will be invaluable to the company as we advance the Cabora Bassa project,” he said.
“Vicky’s extensive understanding of managing assets in Africa means she is well credentialed to provide strategic support to the Invictus team as we transition to the development phase, and I look forward to working with her.”
As of yesterday, Invictus had a market capitalisation of AUD119,57 million translating to US$80,64 million.
