Sasanof-1 Well Fully Funded

The Company is pleased to announce that Western Gas Corporation Pty Ltd ("WGC") and has secured funding commitments for the remaining 25% of the Sasanof-1 well.

WGC will provide this funding to Western Gas (519 P) Pty Ltd (the holding company for Sasanof) to maintain its working interest at 62.5%. Together with the existing committed funding from Global Oil & Gas Ltd (ASX:GLV) (50%) and Prominence Energy Limited (ASX:PRM) (25%), the drilling program is now fully funded.

Highlights

• Western Gas Corporation Pty Ltd ("WGC") has secured funding commitments for the remaining 25% of the Sasanof-1 well

• All major service and supply contracts now awarded

• Rig Mobilisation commencing end of April and Spudding of Sasanof-1 set for early May 2022

Rig Mobilisation and Spudding

Western Gas and Valaris, the owner and operator of the MS-1 semi-submersible drill rig, are progressing plans for the mobilisation of the rig to commence drilling of Sasanof-1 in early May.

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