Stamper shareholders elect new board at AGM

Executive Summary

• Stamper Oil & Gas Corp. reported the results of its Annual General Meeting, where shareholders elected a new five-member board of directors and approved new stock option and restricted share unit plans.
• The company provided a strategic update on its offshore Namibia exploration assets, highlighting encouraging technical data and ongoing farmout initiatives aimed at progressing toward exploration drilling campaigns.
• Management anticipates significant industry activity in Namibia, including potential final investment decisions for projects in 2026 and the resumption of exploration drilling in the Walvis basin in 2026.

Key Details

• Board Elections: The following individuals were elected to the board of directors: Mathew Goldsmith (Chairman), Simon Akit, Desmond Balakrishnan, Chris Cooper, and Joseph Iita.
• Outgoing Directors: The company thanked outgoing members Bryson Goodwin, Saman Eskandari, Quinn Field-Dyke, and James McCrea.
• Shareholder Approvals:
  • The number of directors was set at five.
  • Crowe MacKay LLP was appointed as auditor for the ensuing year (effective Nov. 4, 2025, replacing Adam Sung Kim Ltd.).
  • The rolling stock option plan was approved in accordance with TSX Venture Exchange rules.
  • The restricted share unit plan was approved in accordance with TSX Venture Exchange rules.
• Strategic Outlook (CEO Grayson Andersen):
  • The company is positioned to execute key strategic initiatives leading to drilling on blocks with working or carried interests.
  • Continued exploration success in the Orange Basin by partners Rhino Resources and Azule Energy (BP/ENI JV) could lead to two or three final investment decisions for projects in 2026.
  • New entrants and robust farm-in/farm-out activity are expected to continue through 2025 and 2026.
  • Exploration drilling activity is expected to resume in the Walvis basin in 2026, where Stamper holds petroleum exploration licenses 106 and 98.
• Operational Update:
  • Stamper is reviewing detailed technical information from government agencies and partners to drive farmout initiatives.
  • Data reviewed to date has identified multiple high-impact opportunities from multiple play types throughout the portfolio.
  • Overall oil and gas exploration activities in Namibia remain robust with continuing exploration, evaluation, testing, and farmout programs.
• Asset Portfolio: Stamper holds interests in five offshore Namibian exploration blocks covering four Petroleum Exploration Licenses (PELs):
  • PEL 107 (Orange Basin)
  • PEL 102 (Luderitz Basin)
  • PEL 106 and PEL 98 (Walvis Basin)

Notable Quotes

• Mathew Goldsmith, Chairman: "I am pleased that we have assembled a board of directors with broad and diverse knowledge and skill set. The board has deep experience from governance, finance, operations, regulatory and Namibia perspectives. The strong board complements the strong asset base we have assembled in Namibia as we look forward to executing on our business plan and strategy for successful oil and gas exploration, offshore Namibia."
• Grayson Andersen, CEO: "With our newly elected board of directors, including significant shareholder and chairman, Mathew Goldsmith, we are in a position to start driving forward and executing on our key strategic initiatives, which will ultimately end up with drilling taking place on our blocks, where we have working or carried interests... Ultimately, we believe that the Walvis basin may become the most prolific basin for Namibia with large prospects, better quality sands and high-quality reservoirs."