Prominence Energy Ltd. announced that Western Gas ("WGC") has advised the following operational updates on the drilling of the Sasanof-1 exploration well. Highlights: Valaris MS-1 rig is anchored in the Dampier outer harbour and is on schedule to commence tow to the Sasanof-1 location on 16 May 2022. Western Gas' drilling operations team have been deployed to the field and are now on board the MS-1 rig undertaking pre-mobilisation checks.

Drilling support vessels commenced logistical operations as scheduled on 9 May 2022, with the transport and loading of drilling equipment and bulk materials to the MS-1 rig. More than 800m of 18-3/4" marine riser for deploying the Blow Out Preventer (BOP) is being transported to the rig in preparation of deployment at the Sasanof-1 location (water depth of 1,070m). Drilling operations are expected to commence as planned on 24 May 2022.

Sasanof is a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with 32% geological chance of success. PRM holds 12.5% beneficial interest in the Sasanof-1 well.