/C O R R E C T I O N -- Stamper Oil & Gas Corp./

Executive Summary

• Stamper Oil & Gas Corp. highlights recent new entrant activity by TotalEnergies and Petrobras on PEL 104 in the Lüderitz Basin, which supports the company's strategy of holding assets adjacent to supermajor-operated blocks.
• The company maintains a strategic portfolio of four Petroleum Exploration Licenses (PELs) across three of Namibia's four offshore basins: Orange, Lüderitz, and Walvis.
• Management views the entry of major players like TotalEnergies and Petrobras as validation of the exploration potential in Namibia and a catalyst for future value creation through seismic acquisition, farm-outs, and eventual drilling.

Key Details

• Company Portfolio: Stamper holds interests in five offshore Namibian exploration blocks covering four PELs:
  • PEL 107 (Orange Basin): 32.9% working interest; sits adjacent to PEL 90 (operated by Chevron) and now PEL 104 (operated by TotalEnergies).
  • PEL 102 (Lüderitz Basin): 20% carried interest; adjacent to PEL 104.
  • PEL 106 and PEL 98 (Walvis Basin): Part of the emerging Walvis Basin portfolio.
• Industry Catalysts:
  • TotalEnergies and Petrobras have entered the Lüderitz Basin (PEL 104).
  • Petrobras is a working interest partner alongside TotalEnergies in PEL 104.
• Strategic Thesis: The company believes Namibia will continue to attract new entrants as technical data is acquired, leading to more exploration wells drilled across multiple basins.
• Future Activities: Potential value creation avenues include acquisition of seismic data, farm-outs, and drilling of exploration wells on Stamper's PELs.
• Correction Note: The release corrects a previous error stating "PEL 107 and PEL 104" to correctly read "PEL 107 and PEL 102" regarding the assets supporting the strategic holding.

Notable Quotes

• "With TotalEnergies and Petrobras entering the Lüderitz Basin offshore Namibia, it confirms our strategy of acquiring high quality oil and gas exploration assets offshore Namibia, in proximity to PELs operated by supermajors." — Grayson M. Andersen, Chief Executive Officer
• "The entry of Petrobras as a working interest partner in PEL 104 alongside TotalEnergies, supports our thesis that Namibia will continue to attract new entrants as additional technical data is acquired leading to more exploration wells drilled across multiple basins." — Grayson M. Andersen, Chief Executive Officer