ABOUT THE REUDNITZ GAS FIELD Reudnitz Gas Field (80 per cent interest) LPH signed a heads of agreement with Genexco on the Reudnitz gas field in October 2024. The agreement entitles LPH to obtain 80 per cent interest in the Reudnitz licence. LPH has worked closely with Genexco on the final design of a workover and test of the Reudnitz Z2a well, which was drilled in 2014. Genexco has applied for the permit to perform the operation. It is expected that the operation will take place in March 2025. LPH will use the results of the test to determine whether or not to exercise the Option and become Operator of the licence. The Reudnitz field is a large gas accumulation in the well-known Rotliegendes Formation, just south of Berlin. The field is on trend with other fields producing from the Rotliegendes Formation. The field was discovered in 1964, and appraised in 1989, and again in 2014. The gas contains a significant amount of nitrogen, which will need to be removed before it can be sold. LPH is evaluating use of new modularised technology for cost effective nitrogen removal. In addition to methane (natural gas), the Reudnitz gas contains a not insignificant amount of helium. The helium will be separated in the same process as the nitrogen, and sales of helium significantly boosts the commerciality of a Reudnitz development. The licence is estimated to have resources of over 118 BCF of methane and over 1 BCF of helium. BCF: billion cubic feet LPH’s portfolio in Germany contains additional oil discoveries, and also significant exploration targets. Both the Rhein River valley, and northern Germany have not had significant FURTHER EXPLORATION AND DEVELOPMENT exploration activities in the past 20 years, thus there is potential for large discoveries by using modern exploration and drilling technology. LRG will look to develop the additional discoveries as well as evaluate exploration targets with an eye for cost efficient operations. Rex International Holding Limited 3 5
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