The P2442 licence (Block 53/1b area) was awarded to IOG at 100% working interest in May 2018 in the 30th Licensing Round, of which 50% was farmed out to CalEnergy Resources (UK) Limited (CER) in Q4 2019. Following seismic reprocessing work undertaken over 2020-21, the licence shows potential for a valuable multi-field gas hub, given the identification of the Kelham North, Kelham Central, Thornbridge and Thornbridge Deep prospects and higher resource estimates at Abbeydale.

Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.