Investor Relations

Oslo March 18, 2025

Knox will be listed on Euronext NOTC Wednesday March 19 and the company will start executing its strategy of acquiring undervalued companies financed through the public capital market. The first transaction is already agreed in principle.

Knox has increased its position in Rapid Oil Production Ltd. and now owns 40% of the company. Rapid Oil consists mainly of the 15% fully carried interest in the Fyne field, planned to be in production by 2028.

In addition to the investment in Rapid Oil, Knox has entered into a Heads of Agreement with Inpector Capital BV (NL) regarding acquisition of 38% of the company for USD 10 million in cash and USD 10 million in Knox shares.

Inpector produces heavy oil onshore Egypt through its subsidiary Scimitar Production Egypt Ltd. and will use the proceeds from Knox to ramp up production on the Issaran field from current 3,350 bbls/d to more than 8,000 bbls/d within three years. The Issaran field has oil in place of some 720 million bbls of which 27 million bbls has been produced. Third Party certified 2P plus 2C reserves and resources are 42 million bbls., based on the 2023 independent third party reserve report (the “CPR”) by McDaniel & Associates.

Clarksons Securities has been engaged by the company to assist in raising USD 10-12 million in equity for the acquisition.

Knox has a strategy of building an oil company through acquisition of smaller, undervalued oil companies, assets or companies in “special situations” and production royalties.

The company is currently evaluating additional opportunities and will focus mainly on corporate acquisitions, utilizing the capital market for financing of these transactions.

See enclosed company presentation for further details.

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com

Harald B. Hansen, CEO, hh@knox-energy.com