RCMA Australia Pty Ltd – RCMA Takes Operatorship of Jingemia in Western Australia

PERTH, 10 May 2018 – RCMA Australia Pty Ltd (“RCMA Australia”) is pleased to announce that it has taken over operatorship of the Jingemia oilfield in L14 in the onshore Perth Basin, Western Australia (the “Field”) (the “Title”) from the previous operator Cyclone Energy Pty Ltd (“Cyclone“).

RCMA Australia holds a 60% interest in the Title, together with Cyclone (33.722%) and Norwest Energy NL (6.278%) (collectively the “JV”).

Following approvals from the Department of Mines, Industry Regulation, and Safety (‘DMIRS’) obtained on 9 May 2018, the transfer of operatorship from Cyclone came into effect today.

Douglas King, Chairman of the RCMA Group, said,

We are excited to welcome the Jingemia team to the RCMA family. Our operatorship over Jingemia signifies RCMA’s enhanced commitment to its energy business in Australia.

RCMA completed its acquisition of 60% interest in the Title on 17 July 2017, and the Field achieved first oil again on 17 December 2017 after 5 years of care and maintenance.

The RCMA Group is an international trading house active in the cotton, sugar, coffee, and energy markets. RCMA Australia represents the RCMA Group’s interests in the Australian energy market.

RCMA Australia Pty Ltd

10 May 2018