Ann: Block 9 Alameda 3 Appraisal Update (Alameda reservoir), page-459

A few questions for the board.


1. What went wrong with A3 - this should have been a huge success having been proved in 2022. Was acid/fracking considered during A3 design and if not, why not since it seems standard practice in carbonate reservoirs? When will we get the ‘A3 lessons learned and remedial action plan report’?

2. Is alameda/marti work over going to be done this year? If not when? Have petroaustralis / others been approached for possible fracking/acid services? Perhaps this has already been considered during well design & planning phase.

3. Does the team understand why there was flow rate drop off on 1B from 1900 to <300 bopd? Is there a solution and work over plan ready? Would it be smart to acid wash 1B and frack with proppant to prevent silting up? Will A2, unit 1B be perforated over a greater interval considering on 20% of the net pay was previously perforated

4. How are we going to produce 5000 bopd in 2024 - one two or three wells in 1B. When will the two more wells as promised in 2024 be drilled and by who? And when can we expect a signed offtake agreement and a field development project kick off ?

5. Will FID include APF and pipeline construction - when pipeline is expected to be completed. Has FEED (front end eng and design) been completed for pipeline construction .

6. Will the recent A3 cores, logging, learnings and failed flow test negatively or positively impact the resource figures? When will these figures be released?

7. sentiment has recently been crushed - no trading halt Thursday, inconsistent messaging around key milestones moments, poor results, A3 schedule blowout beyond P90. What are you going to do to restore sentiment and trust which is consistent with the ‘Globally significant’ & ‘Career best’ discovery hype the executive team has sold to shareholders?