Wednesday 9 March 2022

Hartshead Resources NL (Hartshead, HHR or the Company) is pleased to announce the following  operational update with respect to the Company’s exploration portfolio as part of its Phase III field  development.

An exploration study across Hartshead’s License P2607 has been completed by Xodus Group (Xodus),  which has generated a new prospect inventory totalling 14 prospects & leads with un‐risked 2U  Prospective Resources of 344 Bcf. Twelve new prospects, in addition to the existing Garrod and Ayrton  prospects, have been identified on the license area. All of the new prospects are undrilled structural  traps within the Rotliegendes reservoir and are summarised below along with their  respective geological chance of success (GCoS).

A number of opportunities for further work have been identified by Xodus to potentially further de‐ risk the prospects and reduce volumetric uncertainty including seismic reprocessing and geological and  geophysical studies. The prospects will be economically evaluated and ranked prior to being short  listed for further work. Future work on short listed prospect will also involve initial well planning for  the drilling of exploration wells in the final selected prospect or prospects. It may be that the McLaren  prospect can be drilled as part of the Somerville development project in 2024 or 2025 and this option  is being evaluated. Any other prospects selected to be drilled would likely be drilled as vertical  exploration wells, sometime following Phase I first gas which is scheduled for H2 2024