RE: RNS3 Apr 2023 09:01
Material uncertainty related to going concern
We draw attention to note 2b in the financial statements, which indicates that the Group will require additional funding in the coming twelve
months to meet their ongoing cash requirements. Whilst the Directors anticipate that such funding may be obtained from a number of sources,
including production revenue from their joint venture in Turkey and existing producing assets, the completion of a share placing or farm out,
there can be no certainty that such sources of funding are obtained in the timeframes necessary. As stated in note 2b, these events or
conditions, along with the other matters as set forth in note 2b, indicate that a material uncertainty exists that may cast significant doubt on
the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.