Asset: Block 1724
Ownership: 10% project interest
Notes: Cloudbreak will act as a financial partner and sit on the joint operating committee giving corporate direction and reviewing technical information. Should the block be awarded to the Group, Cloudbreak will provide up to USD $120,000 to support exploration initiatives during the first year in exchange for a 10% interest in Block 1724.
Asset: Block 2019
Ownership: 20% | ROFR on future equity offerings up to 10%
Notes: Namibian exploration for oil and gas is early stage and largely untested. Cloudbreak will act as a financial partner to the and sit on the joint operating committee giving corporate direction and reviewing technical information. In exchange for providing a financial guarantee for the first phase exploration programme for Block 2019, Cloudbreak will be granted a 20% interest in Prosper Africa Resources Limited, the holding entity for Block 2019.
Ticker: CSE: GTOO
Partnered Asset: Masten Unit Energy Project
Debenture: USD $2 million @ 2% for 20 months
Royalty: 3.25% ORI | 2 mile AOI with 1% ORI
Notes: In addition to the 3.25% ORI, the agreement includes an area of interest providing Cloudbreak with a 1% ORI on any project acquired within a two-mile radius of the Masten Unit lease boundary and area of influence giving Cloudbreak the right of first refusal to finance additional acquisitions within five miles of the project boundary and apply its existing 3.25% ORI to that project.
Location: Southwest Texas
Partnered Asset: Butte Project
Debenture: Convertible into royalty
Royalty: 6% Gross overriding after conversion of debenture
Notes: First Production: Q3/23 Peak Annual Royalty Cashflow: £0.82m . The agreement includes an area of interest 2 mile/5 mile
Ownership: Wholly owned subsidiary of Cloudbreak Discovery Plc
Qualified Person Statement
Technical information contained in this website has been reviewed and approved by Rory Kutluoglu, P.Geo., a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.