Bengal Energy Ltd. announced that the German-Australian Chamber of Commerce has produced positive results from a screening study to evaluate tailor-made and novel technologies targeted specifically at
Bengal's upcoming Cooper Basin operated activities with the objective of lowering Bengal's carbon footprint and operating costs. Renewable electrification and carbon capture projects are among several innovative technologies identified by the study which may lower operating costs and provide incremental revenue opportunities while reducing the Company's operational carbon footprint. The Company believes that the electrification of well sites using renewable energy has the potential to both improve operating economics and reduce carbon emissions through early integration into production design. The pursuit of carbon capture projects in collaboration with Bengal's landholders may have the potential to yield long-term revenue streams, reduce rehabilitation liability while providing commercial development opportunities for various Bengal stakeholders. The Company has initiated several follow-on
projects to further substantiate these benefits and operationalize these recommendations as part of its 2022 development program. Bengal's mission is to develop and employ sustainability strategies that are practical and immediately
applicable to support all its stakeholders while generating attractive economics that add to shareholder value. The screening study was completed by the AHK Australien's Energy Cluster, which has partnered with various Australian counterparties to develop and implement innovative technologies within Australia's energy sector. The purpose of the study is to develop strategies aligned with the Company's sustainability mission.