Ann: Webinar - Block 9 Field Development Plan, page-91

My questions (submitted to Alex today):
[Please email him directly if you wish to add/improve on these]

(1) Regarding production from the upper units (Unit 1B) - How will the additional wells be funded, and will this involve a further dilution of shareholder’s equity? If not, how does the company intend to finance this expansion.

(2) Looking to 2025, what production numbers does the company reasonably expect to achieve by the end of 2025?

(3) Has the company entered into any sale agreements for oil produced out of the upper units? What is the net return, in US Dollars per barrel, to Melbana? (i.e. Melbana’s share of production revenue, per barrel).

(4) Regarding Alameda-3 - Can the company please provide guidance with regards to the timeline for A3 (Marti and Alameda) remediation (including decisioning and actioning), along with the company’s own view as to the chances of success.

(5) There has been a lot of discussion of public forums regarding Sonangol’s payments to Melbana. Can the company confirm that Sonangol is performing in line with the JV Agreement; and if not, why not. Assuming all is ok, what is the net liquidity position of the company as present? (Cash plus confirmed receivables).

(6) Does the company have a view on the market’s current assessment of market capitalisation? (Given that the company’s market cap has declined by 70% over the past year). Does the CEO still stand by his “billion dollar market cap in 3 years” comment? (Which implies a 10-fold uplift to the current market cap).