Petralon 54 takes action to start production from the Dawes Island Field by the end of 2022

Petralon 54 Ltd, a subsidiary of Petralon Energy Ltd, is in active engagement with its
host community and has commenced technical and operational activities to achieve
production at the Dawes Island Field by the end of 2022.
The move follows the award of the Dawes Island Marginal Field to Petralon 54 Ltd in
2021 and the issuance of its license – Petroleum Prospecting License No. 259 (PPL
259) in June 2022.

The company has taken strategic initiatives to enable seamless operations at Dawes
Island and restart production to raise national output.
Petralon is in active engagement with the Host Community and its stakeholders in the
Dawes Island Field to identify critical projects for implementation as well as create a
formidable working partnership between Petralon 54 and its host/impacted
communities. These include the traditional institutions/Council of Chiefs, Community
Development Committees and other stakeholders.

The company has also actioned several technical and operational initiatives, including
surface well head checks and first line maintenance of the existing well head,
refurbishment/reinforcement of field location infrastructure, mobilization of early well test
equipment and all required field operations support facilities. Upon completion, these
projects will ensure a safe resumption of production activities at Dawes Island.