Elephant Oil

2022-2023 work program Mobilize rig to Benin Drill 2 exploration wells on selected structures FUTURE EXPLORATION PROGRAM Acquire additional 2D seismic Optional further exploration opportunities (see map below) Block B ELEPHANT OIL A B 4 D *% 00000 MAA Underexplored area in a producing basin Experienced team of oil and gas veterans Lower drilling costs compared to offshore drilling Shallow onshore wells Easy access from port with good infrastructure ● Elephant Oil has a 100% Interest in Benin and 70% Interest in Namibia Democratic government 26

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