Meren Energy Share Price (0QVL)

Pursuant to the NCIB, Meren is authorized to repurchase through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems, as and when considered advisable by Meren, up to 21,636,913 common shares of Meren (the "Common Shares") for a total maximum amount of US$35,000,000, which represents 5% of the Company's "public float" of 432,738,277 Common Shares as at November 24, 2025. As of the same date, Meren had 675,725,593 Common Shares issued and outstanding. Purchases of Common Shares will occur over a period of twelve months commencing December 8, 2025 and ending on the earlier of December 7, 2026, the date on which the Company has purchased the maximum number of Common Shares permitted under the NCIB, and the date on which the NCIB is terminated by Meren.

Declared the fourth 2025 quarterly dividend of approximately $25.1 million, bringing total distributions year-to-date to approximately $100.3 million.

During Q3 2025:

achieved average daily W.I. and entitlement production of 31,100 boepd and 35,600 boepd respectively, in line with expectation;

sold three cargoes (approximately 3 MMbbl) at an average sales price of $70.8/bbl;

reduced the RBL by $180.0 million, reducing interest expenses and ending Q3 2025 with a debt balance of $360.0 million;

distributed the third quarterly cash dividend of approximately $25.1 million ($0.0371 per share) in September 2025; and

end of Q3 2025 cash balance of $176.7 million, resulting in a net debt position of $183.3 million with a Net Debt/ EBITDAX of 0.4x as at September 30, 2025. RBL facility headroom of $192.3 million at the end of Q3 2025;

During the first nine months of 2025:

cashflow from operations before working capital adjustment of $243.1 million;

EBITDAX of $368.0 million; and cash capital investments of $80.4 million.

Post Q3 2025 reduced the RBL by a further $30.0 million taking the total RBL reduction year-to-date to $420.0 million with a remaining outstanding debt balance of $330.0 million.

Africa Oil has acquired a new license, EG-18, in Equatorial Guinea. See https://www.facebook.com/groups/1406968422792469/ (Facebook "Africa Oil investor group")

Why no posts on Africa Oil!!! . Hre is a massively undervalued company with cash and intersess in Eco, Impact ,Africa Energy, Ghana . Kenya and lots of exploration opps and nobody says a word.. There almost seems a conspiracy to keep the share price low. Is Lundin doing this? Its interests in real value have got to be in billions .

No luck in drilling for oil and gas in Kenya http://www.upi.com/Business_News/Energy-Industry/2015/11/17/No-luck-in-drilling-for-oil-and-gas-in-Kenya/7421447757915/