ABOUT THE RHEIN ASSETS State Name Comment Exploration Licences Hessen Nördlicher Oberrhein I Considered as one licence Hessen Nördlicher Oberrhein II Baden-Württemberg Weschnitz - Baden-Württemberg Graben-Neudorf - Baden-Württemberg Karlsruhe-Leopoldshafen - Production Licences Hessen Schwarzbach Sits within the Nördlicher Oberrhein exploration licence area Bavaria Lauben Schwarzbach Oil Field and the Erfelden Area The Schwarzbach oil field is located within the larger Erfelden area, which includes the now long-abandoned Stockstadt and Kuhkopf fields. 3D seismic was shot over the Erfelden area in 2012, showing significant remaining potential. Based on the 3D seismic, along with the historical well data, the Schwarzbach 1 well was drilled in 2015, proving oil in the Oligocene PechelbronnerSchichten (PBS) and the shallower Meletta-Schichten sandstone reservoirs. The Schwarzbach 1a was put on production with a peak rate of 225 stb/d. In 2023 the Schwarzbach-2 well was drilled and put on production. Currently the field is producing some 50 barrels per day from two wells. A 2022 Competent Person Report by SGS Nederland B.V. on the Schwarzbach field estimates 2P reserves of 3.8 million barrels5. LRG is currently analysing the data in the area to determine the best way forward on these assets. This could involve drilling of more production wells in the Schwarzbach field and also further near-field exploration drilling within the Erfelden area. Lauben Field (50 per cent interest) The Lauben is located in the Molasse Basin south-west of Munich. The field produced some 140,000 barrels of oil between 1958 and 1985. In 2016 the field was redeveloped with the Lauben 7 well, with ONEO as the operator. Lauben 7 is producing around 20 bopd net to LRG. LRG is working closely with the operator to determine the way forward on Launen. 5 SGS Nederland B.V., Competent Person Report (CPR) - Rhein Petroleum GmbH, 6 December 2022 Annual Report 2024 3 4
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