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Abuja, 29^th September 2022

Atlas Petroleum Remains an Investor in Block P, Equatorial Guinea with 34.13% Participating Interest

Atlas Petroleum () notes the recent press statement by Vaalco Energy, Inc. on the Block P Venus discovery Plan of Development (POD).

Atlas Petroleum, as a legacy investor in Equatorial Guinea, has been a partner in Block P prior to Vaalco’s entrance to the block, and remains an investor with active participating interest in Block P. Any claims to the contrary by Vaalco or any company are false, outrageous and misleading. Atlas has not relinquished any part of its interest. Atlas has does not intend to walk away from Block P.  Any assertion by a company that has decided drill and develop an oil field in the media are wrong. We know work is done on platforms not with the media and we urge our partners to refrain from this.

We are in constant communication with the government and have never received a letter from the government or GEPetrol that our PSC and interest have been cancelled.

Distributed by APO Group on behalf of Atlas Petroleum International Limited.

Media Contact:

Atlas Petroleum International Ltd.

12 Chari Close, FCT Maitama

Abuja, Nigeria