PROMINENCE ENERGY LIMITED

Prominence Energy Ltd (ASX:PRM) is an Australian oil and gas exploration company focused on identifying high return on investment opportunities in the energy sector. The company has projects in various stages of exploration and development in the Gulf of Mexico, U.S. and offshore Western Australia.

Prominence Energy's flagship project is the Big Apple gas prospect located in the Brazos Area of the U.S. Gulf of Mexico. The company was awarded the leases containing the Big Apple prospect in 2023. Independent assessments indicate the prospect has over 1.5 trillion cubic feet of unrisked prospective gas resources with 475 billion cubic feet of risked prospective resources. Prominence Energy is progressing plans to farm-out the prospect to fund an exploration well targeting the large shallow water conventional gas prospect.

In addition, Prominence Energy has a 100% working interest in the Bowsprit oil project in Louisiana located 70km southeast of New Orleans in the prolific Gulf of Mexico hydrocarbon province. Bowsprit is considered a viable single-well development project capable of producing around 1,500 barrels of oil per day. Contingent plans are in place for a well sidetrack by the end of 2023.

The company also holds a 12.5% interest in exploration permit WA-519-P offshore Western Australia which contains several leads and prospects including the giant Maraboa and Kingsburgh gas prospects, and further holds a 10.9% interest in ECOSSAUS Ltd., a company investigating the potential for solution-mined salt caverns to store hydrogen and carbon dioxide in Australia.