Commencement of EIA and EMP for Seismic Operations

Monitor closed 2021 by commencing the Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP), engaging Risk-Based Solutions (RBS) of Dr. Sindila Mwiya and his team. Upon completion, Monitor will be granted a clearance certificate, mandatory for onshore Namibia, for conventional seismic operations over PEL 93. We expect to obtain this authorization by May-June 2022, and schedule to proceed with the seismic operations immediately after. Our objective is to cover all three AOIs identified successfully within our license. This is help us understand the nature of the trends we see on the Gravity and other data. From practical point of view, the terrain allows for operations along roads and fences as well as into the land, if deemed necessary, with minimal impact to the surroundings. Currently, AOI 02 has demonstrated the most significant potential for hydrocarbon, after integration of various data, including a few very well positioned existing seismic lines. However, if the lines over AOI 01 show signs of a potential structure, then we could plan further lines to firm that up to drillable status. It is our objective to take advantage of rapid seismic processing turnaround to plan additional lines based on the results of the initial plan.