RE: From the 25 June RNS21 Aug 2025 09:33
This is Sproule;
Sproule ERCE has worked extensively in the onshore and offshore oil and gas sectors of the world. Sproule ERCE is one of the largest auditors of publicly disclosed reserves and resources for independent oil and gas companies listed on the LSE, as measured by market capitalization. Sproule ERCE is highly conversant with all aspects of reserves and resources reporting, carrying out technical audit work for annual corporate reporting and for CPR's used for public disclosure, financing, and as part of M&A and A&D processes. Sproule ERCE is also familiar with and use the SEC, PRMS, and Canadian NI 51-101 reporting standards as part of its routine audit work. Sproule ERCE has completed audits for the AIM, LSE, TSX, TSX Venture, ASX, Swedish, Norway and US Exchanges. Sproule ERCE's work is well known in the City of London, where it regularly reports to RBL banking syndicates and to Private Equity investors. Sproule ERCE is conversant with the need to input reliable reserves volumes into the financial calculations and disclosure of Depreciation, Impairment, Profit and Loss, Reserves Replacement Ratios (organic and inorganic) and Finding Costs disclosures.