Member Info for Nomlkanymore

The total NFB is approximately 11500km2. Navitas/RKH own licenses of around 2700km2 so about 25%. JHI own about 10%.

At the moment there are two stratigraphic oil discoveries the f2 fan (Sealion) there is still upside here with some smaller unappraised fans highlighted in the recent CPRs. It is easy to forget that the shallow OWC in Sealion cost us about 40% of the potential reservoir due to a seal failure in one of the feeder channels, and its still nigh on a billion barrels.

The f3 fans (Isobel complex) is less spatially massive, but there is a potential 500m oil column and no known OWC. the feeder channel system is also faulted providing a potentially large reservoir area on the Sanson terrace. I remain confident that the f3 complex could match the f2 in overall recoverable resource, although it may be a more complex development.

There are likely 3 other similar systems in NNFB. the western Graben and in PL001

The original 1998 wells targeted some structural plays was did DES in 2010, so far no discoveries, except Johnson Gas. But there is good reason to hope other plays will be more successful.

The question is what should RKH do?

With Navitas bring Sealion to production

Prioritise the 2026 production licence rounds on high potential areas either with or without Navitas

With Navitas Appraise Isobel and flow test with minimum number of wells

I would also look to have two more goes in the SFB, next to and up dip from Darwin

As a shareholder, there is a great opportunity to revisit the 2012 highs, but we need some luck.

There will be opportunities for value as other minnows and mid-caps join the FI adventure.

This is going to happen. Finally.

I hope (nearly all) the old iii community and the new one here will all prosper greatly from being at the opening of a new frontier. Sadly there are a few no longer with us. BOR holders and even JHI holders are partners in this frontier and what is good for one is good for all.

The response today of the share at 50% higher than placing shows the confidence.

After 10 years delay this looks like FID will happen, production will start, and the full potential of both NFB and SFB can be unlocked. There's plenty for everyone.

Good Luck to all

MM

there are two high potential exploration plays that are being assessed. the isobel complex has large potential, the british geological society paper by ***le plenderleith 'the effect of breached relay ramp structures on deep-lacustrine sedimentary systems" if you want to google it. figure 14 shows the 4 horizons of the complex and the potential of a large additional trap on the sanson terrace, where the feeder channels enter the basin. the system is more complex than sealion but the paper provides an exciting summary of the opportunity.

the second play is to the north of sealion (interestingly in an unlicensed acreage!) this is another fan system fed from the north of the basin. "tectonostratigraphy and the petroleum systems in the northern sector of the north falkland basin, south atlantic", if you want to google. this paper is by darren jones, and shows an opportunity of a sealion like system to the north.

the nfb is a proven frontier, we have known for 15 years of the potential, between premier oil, global oil prices, greta thunberg and argentina the opportunity has been ignored. hopefully for not much longer. the source rock is the second most productive in the world with potential for over 60 billion barrels of oil to have been generated (richards and hillier).

priority must be to get sealion into production and generating revenue, but it is 1bn barrels recoverable of a frontier which could be 30x that.

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Interesting paper.