Commencement of 2D seismic acquisition program in the Owambo Basin, Namibia.

The program has been designed to acquire a minimum of ~200-line km of 2D seismic data, with completion expected in Q3 2024.

Acquired seismic data is to be used as part of the validation process for up to 10 independent structural closures identified from airborne gravity and magnetic data.

Expected program outcomes include estimation of a maiden Prospective Resource and identification of future potential drilling locations.

Imminent commencement of drilling of the first of up to four wells by a nearby operator in the Owambo Basin represents a significant catalyst for understanding the onshore resource potential in Namibia.