Ann: MHP production now exceeding 2,040 BOE per day, page-2

Where's the downrampers??
Fremont Petroleum Corporation Ltd (ASX: FPL) (‘Fremont’ ‘the Company’ is pleased to report first production gains
from its 100%-owned Magnum Hunter Production Inc, (‘MHP’ business which operates ~1,300 long life, low decline
conventional natural gas wells in Kentucky, Virginia and Tennessee.
On 9 March 2021, FPL reported that MHP was producing ~1,700 barrels of oil equivalent per day (BOEPD). Initial well
work, some pipeline repairs and other efficiencies has resulted in production increasing by ~20% to 2,040 BOEPD as at
the end of March 2021.
Following is a breakdown in the growth in daily production as at 31 March 2021 compared to 9 March 2021 when the
MHP acquisition was first reported:

	Column 1	Column 2	Column 3	Column 4	Column 5
0	Production at 9 March	% Hydrocarbon	Production at 31 March	% Hydrocarbon
1	Natural Gas [/COLOR]	8.0 MMcfd	80%	9.0 MMcfd	73%
2	Natural Gas Liquids (NGLs) [/COLOR]	16,000 gal	17%	18,000 gal	21%
3	Oil [/COLOR]	100 BBL	3%	115 BBL	6%
4	Total: (BOEPD) [/COLOR]	1,700	2,044

Field activities on MHP’s leases are ongoing to deliver more production gains. As well, the workover program
across the Trey Exploration leases is advancing and the Company will provide an update on progress later in April.
Chief Executive Officer Tim Hart commented: “We are realizing production gains from the MHP leases more quickly
than first anticipated and our team is regularly identifying enhancement opportunities and ways to improve margins.
With over 1,500 wells across our leases, we have lots of scope to grow production from well workovers which is central
to our ‘acquire, enhance, produce’ strategy