Sign Off imminent1 Sep 2025 12:21
The purpose of the Bridge Loan has been to provide the Company with working capital flexibility in preparation for the drilling of the NJOM-3 well on the Thali license in Cameroon. We are still anticipating spudding the NJOM-3 well in Q4 2025, although this is now quite a tight schedule. The Prime Minister of the Republic of Cameroon has issued instructions for the grant of the extension of the initial exploration period of the Thali license and the approval of the farm-out to Prime Global Energies Limited, and the process is ongoing. Therefore, although we expect to receive the formal documentation of these approvals and completion of the farm-out presently, it is important that we keep the current work streams on track in the meantime, in order to minimise delays to the drilling schedule."
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