The Company’s 100% owned licences in offshore Papua New Guinea provide exposure to a coherent, basin-scale opportunity.

Within PPL-579, the Nanamarope prospect represents a drill-ready, standalone oil opportunity with significant scale. A successful outcome has the potential to:

• Establish a new offshore petroleum province
• De-risk multiple adjacent prospects and leads within the licence
• Demonstrate repeatable play concepts across the wider basin

PPL-695 extends this opportunity beyond the initial discovery area, providing substantial follow-on potential and long-term growth optionality.

Together, the licences form a connected portfolio where success at a single prospect can unlock value across multiple assets.