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<\/figure>\n\n\n\nThe net attributable percentage to Europa is 34%[1]<\/sup><\/strong><\/em><\/p>\n\n\n\n \u00b7 798 BCFe Pmean identified in the primary prospect (“Barracuda”) in strata equivalent to the producing Alen Field (the “Alen Strata”) in Block O located 9 km from Barracuda<\/p>\n\n\n\n \u00b7 599 BCFe Pmean identified in two low risk tie-in prospects (Cardinal & Arrowhead) in the Alen Strata<\/p>\n\n\n\n \u00b7 344 BCFe Pmean identified in four additional higher risk prospects in the Alen Strata<\/p>\n\n\n\n \u00b7 375 BCFe Pmean identified in two additional leads<\/p>\n\n\n\n \u00b7 Revised economic analysis indicates that the minimum gross volume of a commercial discovery could be in the order of 90 BCFe (15.2 MMBOE)<\/p>\n\n\n\n This stage of technical work on the block is complete and the data is now being loaded into a data room, which will be open in the coming weeks. Upstream companies will be invited to sign a confidentiality agreement and then be given access to the data room, however ahead of starting this process there have already been a number of suitable companies who have expressed interest in farming into the block. Antler will be seeking a farmin partner to accelerate drilling an exploration well which will target one horizon in the Barracuda prospect, with an estimated GCOS of 70%.\u00a0 Future wells will target the significant additional upside in Barracuda and throughout the license.<\/p>\n\n\n\n The technical work that has just completed included a petrophysical evaluation of the O-2 well drilled in EG-08 down-dip on the Barracuda prospect by Noble Energy in 2007. This evaluation established that the O-2 well encountered gas condensate in the upper section of the reservoir. The Farmin Well will target the same reservoir section up-dip from the O-2 well.<\/p>\n\n\n\n Initial discussions have also been initiated with rig providers with a view to securing a jack-up rig to drill the Farmin Well in H2 2025. With numerous rigs operating in the area, there appears to be good rig availability over the period when the well is expected to be drilled.<\/p>\n\n\n\n Will Holland, Chief Executive Officer of Europa, said:<\/strong><\/p>\n\n\n\n “I am very pleased with the progress that Antler and our technical team has made on the EG-08 licence. The technical work has not only increased the prospectivity of the block by 50% to over 2TCFe, but also further de-risked the Barracuda prospect by identifying gas in the O-2 well, which we will be drilling up-dip from on the same structure.<\/em><\/p>\n\n\n\n