North Falkland Basin – PL001

Unlocking Opportunities of the North Falkland Basin

JHI is the sole owner and Operator of PL001 Production License, which covers an area of approximately 1,126 square kilometers

This provides exposure for JHI shareholders to exploration opportunities in the North Falkland Basin, adjacent to the giant Sea Lion oil discovery with an estimated 1.7 billion barrels of original oil in place and 520 million barrels of recoverable reserves

Sea Lion is operated by Navitas, which estimates a Final Investment Decision (FID) mid-2025

What’s Next

  • The work program for the PL001 concession in 2024 includes seismic reprocessing, which has shown prospects with similarities to Sea Lion in early tests

  • Secured a two-year extension through 2026; optional 10-year period available through 2036

  • 9% Royalty; 26% Corporate Tax

  • Our technical team has reviewed more than 50 prospects on proprietary 3D seismic data with an estimated 3.1 billion bbl of prospective recoverable resource and an upside of more than 10 billion barrels

  • Tyche and Dinlas – both potential ~400 MMBO recoverable prospects of the same age as the adjacent Sea Lion field