Frontera Energy (72%) and CGX Energy (28%), together the “JV Partners”, jointly hold 100% working interest in the Corentyne Block, located in the highly prolific Guyana-Suriname basin.

Two wells drilled, targeting stacked channels across multiple reservoir horizons confirm the prospectivity of the Corentyne Block.

• Kawa-1 (TD Jan-22) well encountered hydrocarbon-bearing reservoirs within the Maastrichtian, Campanian, Santonian and Coniacian intervals.
  
  
• Wei-1 (TD Jun-23) well encountered hydrocarbon-bearing reservoirs within the Maastrichtian, Campanian and Santonian intervals.
  
  
• Discoveries are on trend with Golden/Silver Lane discoveries in the Area.
  
  
• Proven oil charge and excellent reservoir in Maastrichtian justifies focus on this horizon.

Maastrichtian Volumes Underpin Potential Commercial Development

Maastrichtian Prospective Resource estimated to be 514 – 628 mmboe (Pmean unrisked), evaluated independently by two world class resource evaluators. Lower drilling time & cost of Maastrichtian wells favorable for potential  commercial development