Exploration Portfolio

Rhein Petroleum has a number of drill-ready prospects within the asset areas and these are documented within the CPR, with 2 material prospects, Weinheim and Feldschlag and material additional exploration upside in the Steig and Graben discoveries.

The CPR also described a probability of geological discovery (“PGD”) given for each prospect. It must be noted that analogue data is largely unavailable, and so the PGD values may seem somewhat conservative, but in the absence of dry-well data and the relatively immature nature of many of the deeper plays, the CPR deemed these PGD values to be appropriate.

The Weinheim structure is the largest target, containing 2U prospective resources of 180 MMbbls with probability of geological discovery of the various reservoirs ranging from 15% to 42%. This prospect and Steig Deep target the new play in Triassic reservoirs demonstrated by the Römerberg field.

Overview of Reserves, Contingent Resources and Prospective resources assigned to Rhein Petroleum’s assets. Source: SGS 2022