Hello FDR'ers,I've thrown together some thoughts regarding...

Hello FDR'ers,

I've thrown together some thoughts regarding further projects acquisitions Finder alluded to in the quarterly. To start, the UK launched it's first licensing round in the last four years (we know why and we predicted this) however this time the NSTA has added something extra - a push for priority development and production of four prior discovery clusters with a combined resource of 1 Trillion cubic feet of gas (https://www.nstauthority.co.uk/media/8425/sns-cluster-rationale-accessible-7-october.pdf). In addition, the NSTA (ergo UK government) want these prospects in production within five years, their words, not mine.

Now, some critics are immediately going to say that Finder are too small, and my argument in return is that; 1) FDR has already developed close partnerships and JV's with two of the UK's Biggest oil and gas producers (Harbour Energy and Dana Petroleum). 2) Almost all oil and gas projects have risk spread across multiple entities and 3) FDR has already proven shown they play with the likes of Shell, Sapura, Woodside, Apache, PTTEP. Murphy, Schlumberger, just to name a few.

Quite Interestingly, our friends Harbour Energy and Dana are owners in operating fields immediately around these priority clusters (Harbour have three working projects and Dana even partnering with Harbour on one.

The global energy transition is creating unprecedented opportunities in both oil and gas (due to a global energy shortage) as well as decarbonisation projects, such as Carbon Capture and Storage (CCS). Finder’s experience, subsurface knowledge and extensive geodata libraries mean that we are well positioned to pursue opportunities in both these spaces.

During the quarter, Finder progressed several new opportunities to add to the portfolio. We are focussed on opportunities consistent with our strategy to utilise our subsurface capabilities and data libraries to access low entry cost opportunities with high value creation potential. These opportunities include both offshore oil and gas exploration and CCS opportunities. Finder has also formed several key partnerships with other industry groups to pursue these opportunities, bring together capabilities and provide access to existing infrastructure. Whilst Finder is unlikely to be successful in capturing all of these opportunities, we are confident of closing a number of these deals in 2023 and we look forward to announcing the details of these projects as we land them.