Commercial Activities - Licence Interests

NOTES

1. Kumul Petroleum Holdings acquired Cue Energy assets in PNG in 2014. This included
   1. 5.57% interest in PDL3 - SE Gobe field.
   2. 37.44% interest in PRL9 which contains the Barikewa gas discovery.
   3. 37.44% interest in PRL14 which contains the Iehi gas discovery, the Cobra gas discovery, and the Bilip oil and gas discovery.
2. Licence transferred from Petromin in 2016.
3. Licences acquired from Mitsubishi in 2017.
4. JX Nippon interest in PDL3, SE Gobe, sold to KPH in June 2017, increasing Kumul Petroleum Holdings interest to 45.72%.