CONGO BRAZZAVILLE: PetroNor Reports HY Production Growth of 16% & Infill Drilling Ahead of Schedule

For the first half of 2023 PetroNor reports an average gross production of 30,330 bopd has been achieved (subject to final allocation adjustments). This is equivalent to 5,105 bopd net to PetroNor on a working interest basis and represents an increase of 16 % over the previous half year in 2022. Field performance is supported by strong contributions from the six infill wells on Litanzi and Tchibeli NE drilled in 2022.

As reported on 12 June, infill drilling restarted in late May 2023 with an initial focus on the Tchibeli
field. The programme is progressing ahead of schedule with the first two wells now drilled to planned
total depth and currently being completed for production. First oil from these wells is expected during
August. An additional two infill wells on Tchibeli are planned to follow this year.

As reported on 6 July, PetroNor lifted and sold 270,000 bbls (net entitlement production) on 26 June
2023, bringing total sales for the year to 833,266 bbls. The realised sales price was 72.1 USD/bbl. The
Company will release its 1H interim financial statements on 30 August 2023.