Strategic exposure to Namibia's offshore oil boom through 5 offshore blocks across 3 basins via BISP Exploration acquisition. C$16M brokered private placement offering subscription receipts at $0.20 with half warrant at $0.35 (3-year term). Free trading on closing.
Since 2022, Namibia has seen 16 wells drilled with 14 discoveries amounting to an estimated 21 billion barrels of oil in place, making it one of the world's hottest exploration frontiers.
14 discoveries out of 16 wells drilled since 2022 across all operators, demonstrating exceptional geology and world-class potential
Per exploration well investment by TotalEnergies, Chevron, Galp, Azule (BP/ENI JV), Exxon, Shell, and Rhino Resources validates the opportunity
Namibia could deliver a larger production profile than Guyana
Rhino Resources (BP/ENI hold 42.5%) hit oil and immediately spud a second well which flow tested at over 11,000 bbl/d on testing equipment limited constrained basis
Purchased an interest in the Walvis basin where they will start a new drilling campaign in 2026 or 2027
Pending appraisal program to the south on the Kudu field in Luderitz basin where BW Energy is expected to undertake an active drilling campaign later this year
Announced plans to enter Namibia's offshore exploration boom
Five blocks across three major basins offering diversified exposure to Namibia's offshore potential
Diversified exposure with exceptional risk mitigation in the world's most promising oil exploration frontier
Proven leadership with extensive Namibian and global oil & gas experience
25-year career in global oil and gas with operational experience in Canada, UK-Europe, South America and Africa
Worked with CNRL, Geo-Park, and Frontera
15 years experience in Namibia financing offshore projects (UNX/HRT) and onshore exploration with ReconAfrica
Partner and Chief Investment Officer P5 Infra LLC
Founder and Board Member of HRT Participacoes
Former Managing Director BMO Capital Markets
Extensive history and experience in the Namibian Oil and Gas Sector
15 years of financial expertise in finance and public company administration
Extensive experience working with publicly traded companies on the TSX Venture Exchange and CSE
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