In 2026 the Group acquired the Block 8 Contract Area for a maximum consideration of $60 million to be paid from a $5 per barrel royalty from future production at the Block 8 Contract Area.
The Block 8 Contract Area is approximately 160 km from the BNG Contract area and extends over 2,823 sq km with three identified structures.
Two deep wells have been drilled to depths of 4,203 meters and 3,449 meters respectively on the Sholkara structure, from which oil has flowed at commercial rates.