Short Term Trading Week Starting: 16 May, page-16

• 16/05/22 Byron Energy (BYE) Update
• Summary: SM58 G3 Well Logs Hydrocarbon Pay, Production Casing Set

SM58 G3 Well Logs Hydrocarbon Pay, Production Casing Set

58 feet of True Vertical Thickness pay has been logged in the SM58 G3 well

27 feet of TVT pay in the primary J Sand

31 feet of TVT pay in the secondary K4/B65 Sand

Production casing has been run & cemented in place to total depth

The EOD 264 rig will now skid to the SM58 G5 well & drill to total depth prior to commencement of completion operations

G3 first production is expected in July 2022 after the drilling of the G5 well

Byron is revising a previously announced rig contract to become a three wellprogram with an optional fourth well commencing in late 2022 or early 2023

Byron's CEO Maynard Smith said:

"I am very pleased with the results of the G3 well & the overall efficiency of our drilling operations to date.

This drilling success is an example of utilizing Byron’s cash flow to maximize production at a time of high oil and gas prices.

The operational efficiencies are a result of good planning by our Lafayette based team in conjunction with our long-term contract drilling engineers.

I look forward to the results of the G5 & getting both wells into production.

We are also pleased to secure the EDO 264 for an additional well early next year at a time of limited drilling rig inventory and probable high commodity prices.”