Monitor Exploration

Monitor Exploration Ltd (MEL) holds 55% of PEL 93, covering an area of 18,500 sq km over the heart of the Owambo basin in north east Namibia. • MEL, together with JV partners in PEL 93, have acquired 260 line-km of 2D seismic data in 2023 and 2024, which generated a portfolio of 11 leads • Earlier, MEL had completed passive seismic surveys, remote sensing and gas soil sample analysis which support the interpretation of oil accumulations in several large structures mapped on legacy gravity, seismic and magnetic data. • ReconAfrica (TSX RECO) have recently announced very positive drilling results, proving oil and viable reservoirs in the eastern extension of the Owambo basin • MEL are seeking investors to join us in exploring this highly attractive acreage. Target raise of $20-30 million via: Private Placement, or Merger with suitable partner, or Farm-in by qualified operator