Extracted from NGY’s latest Quarterly Report December 2023 on...

Extracted from NGY’s latest Quarterly Report December 2023 on Muralim PSCwhich was announced today

Muralim PSC

NuEnergycontinues to undertake the dewatering process on MU-005TW well to deliver gasproduction data. During the current quarter the operator activated an existingwell (MU-006), which is adjacent to MU-005TW, to accelerate the dewateringprocess and expedite gas flows. The workover on well MU-006 was carried out inlate November. After the pump was replaced and a function test was carried out,the activation of the existing MU-006 well was completed. Thereafter,dewatering activities at the MU-006 well commenced and are ongoing.

Inthe previous quarter, NuEnergy was granted an additional exploration period of19 months to 29 March 2025, from MEMR. The extension will enable NuEnergy tocomplete the exploration commitments and acquire necessary production data,which will then facilitate the submission of a POD proposal for the MuralimPSC, which is the final step required before entering the development phase forthe asset.