Jaws-1 – Progress Update1001201408060402021/11/18 13/12/18...

Jaws-1 – Progress Update1001201408060402021/11/18 13/12/18 DecemberJaws-1

Gas Production (mscf/d)Gas Production

 Gas production began in-line with modelling (October) with low baseline production and surging.

 End November to present has shown the beginning of a trend as the daily production range tightens and measurable daily growthis observed; growth rate is positive.

Reservoir Performance

 Bottom Hole Pressures (BHP) have been brought down ~7 PSI per day and are currently sitting at ~300 PSI.

 During this drawdown period water production has remained strong at ~700 bwpd, with the reservoir currently producing 640 bwpd.

 Current relationship between BHP and water production is a very good indicator that permeability has been retained throughout thereservoir and there are no adverse effects resulting from the increase in differential pressure between the well bore and reservoir.

Future Operations

 Continue to pilot the Jaws wells towards commercial success.