17 6 June LPH gives a progress update on and outlines growth catalysts for its assets in Benin, Norway and Germany, including expected drilling and production timeline in Benin, overperformance of Brage Field in Norway in terms of production, and a focus on developing the Erfelden area in Germany. 23 June An Independent Summary Qualified Person’s Report (QPR) for the Yumna Field in Block 50, Oman, taking into account updates to the model that was used to provide, together with production forecasts, an estimate of the remaining reserves under various development options as of 31 December 2024, is issued. 30 June Rex Oman Ltd (“Rex Oman”) initiates a process to explore debt financing alternatives for its Oman activities. The proceeds from this new financing, if completed, will be used for capital expenditure of Masirah Oil Ltd’s (“MOL”) assets in Oman and general corporate purposes. 8 July An exploration well in the producing Brage Field, in which LPA holds a 33.8434 per cent interest, is spudded in the southern part of the Talisker discovery, aims to test hydrocarbon presence in geological layers that have not been penetrated before. This exploration well is the first of three consecutive wells to be drilled in the same campaign by the rig on the Brage platform. The two subsequent wells will comprise another exploration well and a new production well. 5 August Akrake announces that it has on 4 August 2025, spudded the first well in the Sèmè Field in Block 1, Benin, using the Borr Gerd jack-up drilling rig. The drilling is part of a three-well work-programme to redevelop the Sèmè Field. 5 August The first of two production wells in PL740 Bestla, in which LPA has a 17 per cent interest, has been spudded on 4 August 2025. The Bestla Field, estimated to contain 24 million barrels of oil equivalent gross in recoverable reserves1, is being developed as a two-well subsea tie-back to the Brage Field, in which LPA has a 33.8434 per cent interest. The Brage platform will serve as the host facility for production, processing, and export. First oil is expected in early 2027. 13 August LPH gives updates on its portfolio in Benin, Norway and Germany, including the continued overperformance in production in the Brage Field, concurrent drilling at Brage and Bestla in Norway; and finalisation of plans for the Schwarzbach/Erfelden Field in Germany. 25 August LRG’s Main Operating Plan (Hauptbetriebsplan) application made on 13 May 2025 for the Steig Field, in which LRG holds a 100 per cent interest and is the operator, has been approved by the Mining Authority (Landesamt für Geologie, Rohstoffe, und Bergbau) of Baden Württemberg on 18 August 2025. The approval is granted for a limited period until 31 May 2027. 1 OKEA ASA press release, "Final investment decision made for Brasse", 8 April 2024. Rex International Holding Limited 17
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