Member Info for Miniforvalter

Annual free cash flow expected to increase to c.$1.0 billion in 2028 - (Reflects $65/bbl and $11/mscf for 2026 and $70/bbl and $10/mscf 2027 onwards escalated at 2.5% in line with costs)

Under the new policy, Harbour will target returning 45-75% of free cash flow each year, including an initial

base dividend of 16.10 cents/voting ordinary share ($300 million)

While leverage is above 1.0x, Harbour expects to pay out towards the lower end of the range, prioritising

debt reduction. As leverage falls below 1.0x, Harbour expects to pay out towards the top end of the range .

2026 guidance and outlook

Production of 475-500 kboepd. Production to end February averaged 509 kboepd including one month’s

contribution from LLOG.

Free cash flow of c.$0.6 billion3, assuming $65/bbl Brent and $11/mscf European gas prices. A $5/bbl

change in Brent or $1/mscf change in European gas prices for the full year impacts our 2026 free cash

flow by c.$170 million or c.$150 million respectively.

Brent around 84$ now and gas allmost 17$

Https://en.mercopress.com/2023/10/03/brazil-to-begin-dredging-stretches-of-the-amazon-fluvial-network-because-of-the-drought

During the first quarter, X rig released three (2.5 net) multi-lateral wells in its Northern Exploration Program. The one (0.5 net before payout) exploratory horizontal multi-lateral well at Dawson (5-16-81-16W5) had approximately 7,500 meters of horizontal length as compared to a Figure Lake type curve(1) well with approximately 9,000 meters of horizontal length and recorded an average rate of 81 bbl/d for its 48 days of production before it was shut-in in late March due to winter only access conditions. In April, X, along with its 50% partner, made its election to drill a second earning well at Dawson prior to April 1, 2024. The Company will continue to review data as information is released and monitor performance from the multiple competitor wells in the Dawson / Seal area to inform its follow-on exploration activity.

108 boepd in april

79 boepd in may

26/4-2023 "we have also this wapiti well - producing from the Dunvegan formation - started production in march also - only registered 5 boepd - but as this are not a hole month - we have to wait a month or 3 to see the potentiel for these wells.

https://www.google.com/maps/place/54%C2%B050'10.1%22N+119%C2%B008'37.6%22W/@54.836127,-119.1459717,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.836127!4d-119.143783"

Another good well

106 boepd in april

214 boepd in may

26/4-23 "another i3e wapiti well on pump in march just next door here

https://www.google.com/maps/place/54%C2%B052'04.2%22N+119%C2%B011'50.0%22W/@54.86782,-119.1994147,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.86782!4d-119.197226

registered 37 boepd in march - dont know when in the month it started producing."

Looking good

126 boepd in april

246 boepd in may

26/4-23 "this new wapiti well drilled in march 23 are now on pump - cleaning up - registered 42 boepd (both gas and oil in the well) in march - but it are average for the month regardless that it hasnt produced all month.

https://www.google.com/maps/place/54%C2%B052'04.4%22N+119%C2%B011'49.0%22W/@54.867896,-119.1991327,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.867896!4d-119.196944"

"In total the 2023 programme is

scheduled to deliver 23 gross wells (15.2 net, 70% net i3

operated). Based on the expected performance of these

wells, forecast 2023 annual production is expected to be

in the range of 22,250 to 23,000 boepd, representing a

year-over-year increase of approximately 10% to 13%, with

an expected peak production rate in 2023 of approximately

26,000 boepd. Our budget allocation to the UK is limited to

USD 0.6 million, which will be used to advance the Serenity

one well development to field development plan stage. The

Canadian drilling programme for Q1 2023 has been completed

with wells being equipped and tied into production facilities

for clean-up. Drilling operations will recommence in Q3 2023

when surface conditions allow operations, following the Spring

seasonal wet period."

06/02/23 I3 ENERGY PLC : Q4 2022 Earnings Release (Projected)

2023-04-18 Approved From Signalta Resources Limited to I3 Energy Canada Ltd. 1 facilities

2023-02-16 Approved From I3 Energy Canada Ltd. to Axiom Oil And Gas Inc. 4 wells

2023-02-02 Approved From I3 Energy Canada Ltd. to Axiom Oil And Gas Inc. 33 wells 3 facilities

well data from twitter

https://twitter.com/Jesper_M_Olsen/status/1651199036869824515?s=20

the last well in this drilling campaign - drilled by Bonanza Drilling Inc - was in the Cardium formation - began production in march with registered combined oil and gas in the well with 54 boepd for march.

https://www.google.com/maps/place/53%C2%B004'24.1%22N+114%C2%B042'50.7%22W/@53.073359,-114.7162647,525m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d53.073359!4d-114.714076

we have also this wapiti well - producing from the Dunvegan formation - started production in march also - only registered 5 boepd - but as this are not a hole month - we have to wait a month or 3 to see the potentiel for these wells.

https://www.google.com/maps/place/54%C2%B050'10.1%22N+119%C2%B008'37.6%22W/@54.836127,-119.1459717,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.836127!4d-119.143783

these wells are producing from the cardium formation

another i3e wapiti well on pump in march just next door here
https://www.google.com/maps/place/54%C2%B052'04.2%22N+119%C2%B011'50.0%22W/@54.86782,-119.1994147,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.86782!4d-119.197226

registered 37 boepd in march - dont know when in the month it started producing.

this new wapiti well drilled in march 23 are now on pump - cleaning up - registered 42 boepd (both gas and oil in the well) in march - but it are average for the month regardless that it hasnt produced all month.

https://www.google.com/maps/place/54%C2%B052'04.4%22N+119%C2%B011'49.0%22W/@54.867896,-119.1991327,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.867896!4d-119.196944

this clearwater well are under D & COMP - currently gas coming up

https://www.google.com/maps/place/55%C2%B047'33.9%22N+114%C2%B040'45.9%22W/@55.79276,-114.6816047,491m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d55.79276!4d-114.679416

this gas battery
https://www.google.com/maps/place/52%C2%B038'32.0%22N+114%C2%B037'40.7%22W/@52.642224,-114.6301487,530m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d52.642224!4d-114.62796

are also now moving up in production again:
on production in july last year

jul - 347 boepd
aug - 1008 boepd
sep - 1308 boepd
oct - 1271 boepd
nov - 1141 boepd
dec - 1010 boepd
jan - 976 boepd
feb - 820 boepd
mar - 840 boepd

this gas battery
https://www.google.com/maps/place/52%C2%B042'51.8%22N+115%C2%B006'26.2%22W/@52.71438,-115.1094727,529m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d52.71438!4d-115.107284

are now moving up in production again:
on production in oct last year

oct - 190 boepd
nov - 976 boepd
dec - 873 boepd
jan - 790 boepd
feb - 791 boepd
mar - 891 boepd

looking good

Number of producing wells in AB
08-22 - 716 wells
09-22 - 716 wells
10-22 - 721 wells
11-22 - 721 wells
12-22 - 712 wells
01-23 - 728 wells
02-23 - 731 wells
03-23 - 726 wells