Could you give us an overview of Sand Hill Petroleum and discuss its operations since entering the Romanian market?

Sand Hill Petroleum is a Hungarian-based company that has recently expanded its operations into Romania. The decision to explore beyond Hungary was motivated by the vast potential of Romania’s resource base and the country’s long-standing history in the energy industry. Our subsidiary, Sand Hill Petroleum Romania (SHPR), is the Titleholder of two concession agreements in the Western part of the country, which we found particularly appealing as it is geologically an extension of the Pannonian Basin. Our company holds a 70% stake in EX-1 Voivozi and an 80% stake in EX-5 Adea, with the remaining shares held by Panfora, who is also a Titleholder of the two blocks. As the Operator for both blocks, we are applying our extensive expertise in the industry in the same manner we did in Hungary, with the belief that we will discover even more substantial reserves.

Can you tell us more about the geological potential of the Pannonian Basin and how it compares to other oil and gas producing regions?

The Pannonian Basin is a region of great geological interest, known for its hydrocarbon potential, stretching across Central and Eastern Europe. It has already yielded significant discoveries in Hungary, Austria, Serbia, and Croatia, making it one of the most promising oil and gas producing regions in Europe. The basin has a complex geological structure, with significant differences between the geological formations in each area. In Romania, we are exploring the extension of the basin and we believe that it has great potential for substantial hydrocarbon reserves.

What is Sand Hill Petroleum’s strategy for exploring and developing the Romanian blocks?

Our strategy is to apply our proven exploration and development methods that have been successful in Hungary. We will use advanced technology and geological analysis to identify the most promising areas for drilling and production. Our objective is to optimize the cost of operations while achieving maximum efficiency and ensuring the highest environmental standards are maintained. We plan to drill exploratory wells in the two blocks in Romania in the next two years and we are confident that our approach will lead to the discovery of significant reserves.

How does Sand Hill Petroleum plan to ensure sustainable and responsible energy production in Romania?

At Sand Hill Petroleum, we are committed to sustainable and responsible energy production. We understand the importance of minimizing our environmental impact while also meeting the energy needs of the region. Our operations are guided by the highest international standards, and we plan to use the latest technologies and best practices to minimize our carbon footprint. We will work closely with local communities to ensure they benefit from our activities, and we will support the development of the region’s economy through job creation and other initiatives. Additionally, we will comply with all relevant environmental and safety regulations and will continually monitor and improve our operations to ensure sustainable and responsible energy production.