Maurel & Prom: Update on the acquisition of additional interests in Blocks 3/05 and 3/05A in Angola

PARIS--(BUSINESS WIRE)--Regulatory News:

Etablissements Maurel & Prom S.A. ("M&P", the “Group”) (Paris:MAU) announces an update to the acquisition of interests in Blocks 3/05 and 3/05A offshore Angola, initially announced on 19 June 2025.

As part of the transaction process, Sonangol E&P (“Sonangol”), the operator of both blocks, has elected to participate in the acquisition of Etu’s interests. Following this development, M&P, Afentra plc (“Afentra”), and Sonangol will jointly acquire Etu’s 10% interest in Block 3/05 and 13.33% interest in Block 3/05A offshore Angola.

As a result of Sonangol’s participation in the transaction, M&P has entered into a new Sale and Purchase Agreement (“SPA”) with Etu to acquire a 3.33% interest in Block 3/05 and a 3.66% interest in Block 3/05A for an initial consideration of $15 million, subject to customary completion adjustments. A contingent consideration of up to $7 million may be payable, linked to a combination of oil price thresholds, production performance, and the successful development of existing discoveries.

Completion of the transaction remains subject to customary conditions precedent, including government approval in Angola. The previously announced SPA signed with Etu has been terminated.

Following completion of the Acquisition, the joint venture partners across both Blocks 3/05 and 3/05A will be comprised as follows:

	Block 3/05	Block 3/05A
Sonangol (operator)	39.34%	39.34%
Afentra	33.33%	24.99%
M&P	23.33%	30.33%
NIS Naftagas	4%	5.33%

For more information, please visit www.maureletprom.fr/en/

This document may contain forecasts regarding the financial position, results, business and industrial strategy of Maurel & Prom. By their very nature, forecasts involve risk and uncertainty insofar as they are based on events or circumstances which may or may not occur in the future. These forecasts are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production rates and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Maurel & Prom is listed on Euronext Paris
CAC Mid & Small – CAC All-Tradable – PEA-PME and SRD eligible
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