ONSHORE BLOCK: NYUNI AREA

OPERATOR:

Ndovu Resources Ltd (93.33%)

OTHER CONTRACTING PARTIES:

• Bounty Oil and Gas (6.67%)

License Area Size:

855.81 sq.km

PSA Signed Date:

27^th October 2011

Effective Date (Initial Period):

27^th October 2011

First Exploration License:

6^th December 2016

Current License Period:

First Extension Period

License Effective Date:

6^th December 2016

Current License Phase:

Exploration - Applied for Second extension period

STATUS OF OPERATIONS

The Operator to acquire, process and interpret 150 sq.km, Carry out Geological and Geophysical studies, Drill at least two (2) exploration wells.